State Street Corp Raises Position in Flywire Co. (NASDAQ:FLYW)

State Street Corp boosted its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,930,906 shares of the company’s stock after buying an additional 145,894 shares during the period. State Street Corp owned approximately 2.34% of Flywire worth $48,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of Flywire by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,445,629 shares of the company’s stock valued at $23,694,000 after acquiring an additional 97,412 shares during the last quarter. RiverPark Advisors LLC lifted its position in Flywire by 9.6% during the second quarter. RiverPark Advisors LLC now owns 16,142 shares of the company’s stock valued at $265,000 after purchasing an additional 1,416 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Flywire by 7.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,506 shares of the company’s stock worth $418,000 after buying an additional 1,718 shares in the last quarter. Peregrine Capital Management LLC increased its holdings in shares of Flywire by 1.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 405,835 shares of the company’s stock worth $6,652,000 after buying an additional 5,271 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Flywire by 15.6% in the 2nd quarter. Rhumbline Advisers now owns 169,434 shares of the company’s stock worth $2,777,000 after buying an additional 22,891 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $20.47 on Friday. Flywire Co. has a 1 year low of $15.19 and a 1 year high of $31.54. The stock’s 50-day moving average is $20.06 and its 200 day moving average is $18.15. The company has a market cap of $2.55 billion, a PE ratio of 136.47, a P/E/G ratio of 3.10 and a beta of 1.08.

Analyst Ratings Changes

A number of analysts have recently issued reports on FLYW shares. Wells Fargo & Company downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $18.00 in a report on Friday, October 11th. B. Riley reiterated a “buy” rating and issued a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. Morgan Stanley increased their price objective on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft boosted their target price on Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and an average target price 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.