Principal Financial Group Inc. Sells 5,009 Shares of Flywire Co. (NASDAQ:FLYW)

Principal Financial Group Inc. decreased its position in Flywire Co. (NASDAQ:FLYW) by 30.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,305 shares of the company’s stock after selling 5,009 shares during the period. Principal Financial Group Inc.’s holdings in Flywire were worth $185,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FLYW. Olympiad Research LP bought a new position in Flywire in the third quarter worth $206,000. Harbor Capital Advisors Inc. raised its stake in shares of Flywire by 87.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 223,244 shares of the company’s stock valued at $3,659,000 after buying an additional 104,336 shares in the last quarter. Values First Advisors Inc. increased its stake in Flywire by 13.6% in the third quarter. Values First Advisors Inc. now owns 31,747 shares of the company’s stock valued at $520,000 after acquiring an additional 3,805 shares during the period. Assenagon Asset Management S.A. acquired a new position in Flywire in the third quarter worth about $4,843,000. Finally, Creative Planning lifted its stake in Flywire by 36.5% during the third quarter. Creative Planning now owns 29,685 shares of the company’s stock worth $487,000 after purchasing an additional 7,940 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Stock Up 0.1 %

Shares of Flywire stock opened at $22.95 on Tuesday. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $31.54. The stock has a market cap of $2.86 billion, a PE ratio of 153.00, a price-to-earnings-growth ratio of 4.42 and a beta of 0.95. The business has a fifty day simple moving average of $18.22 and a 200 day simple moving average of $17.62.

Insider Activity

In other news, COO Rob Orgel sold 3,824 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the sale, the chief operating officer now owns 473,648 shares of the company’s stock, valued at $8,198,846.88. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO David R. King sold 3,353 shares of the business’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 $60,488.12. Following the completion of the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at $11,188,119.36. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock valued at $480,143 in the last ninety days. 3.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Raymond James raised their target price on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Royal Bank of Canada cut 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. 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 report on Tuesday, August 20th. Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.