Flywire Co. (NASDAQ:FLYW) COO Sells $82,118.08 in Stock

Flywire Co. (NASDAQ:FLYW) COO Rob Orgel sold 4,552 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $82,118.08. Following the completion of the transaction, the chief operating officer now owns 477,472 shares of the company’s stock, valued at $8,613,594.88. The sale was disclosed in a document filed with the SEC, which is available through this link.

Flywire Stock Up 0.9 %

NASDAQ FLYW traded up $0.16 during trading hours on Thursday, hitting $17.54. 676,353 shares of the company were exchanged, compared to its average volume of 1,487,326. The company has a 50 day moving average of $17.55 and a two-hundred day moving average of $19.78. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -158.00, a PEG ratio of 6.69 and a beta of 0.98. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $33.65.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. Flywire’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) earnings per share. On average, equities research analysts predict that Flywire Co. will post 0.05 EPS for the current year.

Analysts Set New Price Targets

FLYW has been the subject of a number of research reports. BTIG Research decreased their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada decreased their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on shares of Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, UBS Group cut their price objective on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.92.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC lifted its holdings in Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after purchasing an additional 6,519,598 shares in the last quarter. Primecap Management Co. CA grew 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 in the last quarter. Jennison Associates LLC increased its holdings in Flywire by 129.7% during the 1st quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock worth $46,170,000 after purchasing an additional 1,050,924 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Flywire by 24.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock valued at $101,553,000 after acquiring an additional 872,619 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Flywire during the second quarter worth about $12,642,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

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.