Flywire Co. (NASDAQ:FLYW) Shares Acquired by Fmr LLC

Fmr LLC lifted its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 3.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,408,098 shares of the company’s stock after acquiring an additional 326,120 shares during the period. Fmr LLC owned approximately 7.51% of Flywire worth $154,199,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Jennison Associates LLC increased its stake in Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after purchasing an additional 112,218 shares in the last quarter. Curi RMB Capital LLC acquired a new position in shares of Flywire in the 3rd quarter valued at $1,143,000. Westfield Capital Management Co. LP increased its position in shares of Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after acquiring an additional 1,006,516 shares during the period. Ensign Peak Advisors Inc purchased a new position in Flywire in the 2nd quarter worth $734,000. Finally, Primecap Management Co. CA lifted its position in Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after acquiring an additional 1,407,180 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Stock Down 1.9 %

FLYW stock opened at $22.70 on Wednesday. The business has a 50 day moving average price of $18.84 and a 200 day moving average price of $17.83. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 151.33, a PEG ratio of 3.90 and a beta of 1.08. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Insiders Place Their Bets

In related news, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the sale, the chief operating officer now directly owns 473,648 shares in the company, valued at $8,198,846.88. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David R. King sold 3,504 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the transaction, the chief technology officer now owns 616,680 shares of the company’s stock, valued at $10,674,730.80. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,663 shares of company stock valued at $149,957. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FLYW has been the subject of several research analyst reports. Citigroup reduced their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group raised their price target on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James upped their price objective on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Morgan Stanley raised their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada lowered their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.29.

Flywire Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.