Flywire (NASDAQ:FLYW) Shares Gap Up on Analyst Upgrade

Shares of Flywire Co. (NASDAQ:FLYW) gapped up before the market opened on Friday after Raymond James raised their price target on the stock from $23.00 to $27.00. The stock had previously closed at $18.30, but opened at $20.59. Raymond James currently has a strong-buy rating on the stock. Flywire shares last traded at $21.24, with a volume of 339,666 shares trading hands.

Several other equities research analysts have also recently weighed in on FLYW. B. Riley reiterated a “buy” rating and set a $30.00 price objective on shares of Flywire in a research report on Wednesday, October 2nd. Royal Bank of Canada decreased their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. BTIG Research lowered their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Citigroup dropped their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Insider Activity at Flywire

In related news, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO David R. King sold 3,504 shares of Flywire stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the sale, the chief technology officer now owns 616,680 shares in the company, valued at approximately $10,674,730.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $31,912.76. Following the sale, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,966 shares of company stock worth $480,143. Insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Flywire during the 1st quarter worth approximately $363,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Flywire by 3.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after purchasing an additional 702 shares during the last quarter. Swiss National Bank grew its stake in shares of Flywire by 0.8% in the first quarter. Swiss National Bank now owns 212,300 shares of the company’s stock worth $5,267,000 after acquiring an additional 1,600 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Flywire during the 1st quarter valued at about $46,000. Finally, ProShare Advisors LLC increased its position in shares of Flywire by 8.5% during the first quarter. ProShare Advisors LLC now owns 19,104 shares of the company’s stock valued at $474,000 after acquiring an additional 1,504 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 14.7 %

The firm has a 50 day simple moving average of $17.18 and a 200 day simple moving average of $17.45. The firm has a market capitalization of $2.63 billion, a PE ratio of -299.86, a P/E/G ratio of 7.70 and a beta of 0.95.

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.