Principal Financial Group Inc. Has $185,000 Stake in Flywire Co. (NASDAQ:FLYW)

Principal Financial Group Inc. reduced its stake in shares of Flywire Co. (NASDAQ:FLYW) by 30.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,305 shares of the company’s stock after selling 5,009 shares during the quarter. Principal Financial Group Inc.’s holdings in Flywire were worth $185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. William Blair Investment Management LLC lifted its holdings in Flywire by 125.1% during the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after buying an additional 6,519,598 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after acquiring an additional 1,407,180 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Flywire by 19.3% in the third 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 last quarter. Point72 Asset Management L.P. acquired a new stake in Flywire in the second quarter worth about $12,642,000. Finally, Blair William & Co. IL raised its holdings in Flywire by 33.4% during the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after purchasing an additional 453,183 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FLYW has been the subject of a number of analyst reports. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Morgan Stanley increased their target price on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Raymond James boosted their target price on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. B. Riley reiterated a “buy” rating and issued a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.29.

Flywire Stock Down 1.1 %

Shares of NASDAQ:FLYW opened at $19.26 on Wednesday. Flywire Co. has a 12-month low of $15.19 and a 12-month high of $31.54. The company’s 50 day moving average price is $20.83 and its two-hundred day moving average price is $18.50. The firm has a market cap of $2.40 billion, a PE ratio of 128.40, a PEG ratio of 3.03 and a beta of 1.08.

Flywire Company 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.