Commerce Bank Sells 852 Shares of Flywire Co. (NASDAQ:FLYW)

Commerce Bank decreased its position in Flywire Co. (NASDAQ:FLYW) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,895 shares of the company’s stock after selling 852 shares during the quarter. Commerce Bank’s holdings in Flywire were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FLYW. Arizona State Retirement System boosted its position in Flywire by 3.1% in the second quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock valued at $499,000 after buying an additional 908 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after acquiring an additional 954 shares in the last quarter. Truist Financial Corp grew its position in Flywire by 6.2% during the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock worth $319,000 after acquiring an additional 1,128 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Flywire by 7.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,295 shares of the company’s stock valued at $349,000 after purchasing an additional 1,411 shares in the last quarter. Finally, RiverPark Advisors LLC raised its position in Flywire by 9.6% in the 2nd 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. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Trading Down 2.1 %

Shares of FLYW opened at $22.46 on Wednesday. The stock has a market cap of $2.79 billion, a P/E ratio of 149.73, a price-to-earnings-growth ratio of 4.42 and a beta of 0.95. 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 price is $18.22 and its two-hundred day moving average price is $17.62.

Insider Activity at Flywire

In related news, CEO Michael Massaro sold 8,629 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the sale, the chief executive officer now owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO David R. King sold 3,353 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the completion of the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock worth $480,143 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup lowered their target price on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Raymond James increased their price target on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Royal Bank of Canada dropped their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Four equities research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.86.

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.