Peter Butterfield Sells 5,523 Shares of Flywire Co. (NASDAQ:FLYW) Stock

Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $10.10 on Friday. Flywire Co. has a one year low of $8.62 and a one year high of $26.41. The firm’s 50 day simple moving average is $17.23 and its two-hundred day simple moving average is $18.38. The stock has a market capitalization of $1.25 billion, a P/E ratio of 67.33, a PEG ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, equities analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Flywire

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after purchasing an additional 17,062 shares during the period. Versor Investments LP bought a new position in shares of Flywire during the fourth quarter valued at $1,118,000. Jennison Associates LLC increased its holdings in shares of Flywire by 5.3% during the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after acquiring an additional 112,218 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Flywire by 345.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock valued at $1,980,000 after acquiring an additional 74,465 shares in the last quarter. Finally, Curi RMB Capital LLC bought a new position in shares of Flywire during the third quarter valued at $1,143,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. UBS Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.23.

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.