Flywire (NASDAQ:FLYW) Price Target Raised to $21.00 at Morgan Stanley

Flywire (NASDAQ:FLYW) had its price target boosted by Morgan Stanley from $20.00 to $21.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

FLYW has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reduced their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Citigroup reduced their price target on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Finally, B. Riley reissued a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Four research 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, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

Flywire Price Performance

FLYW stock opened at $23.17 on Monday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 154.47, a P/E/G ratio of 9.00 and a beta of 0.95. The business has a 50-day moving average of $17.28 and a 200-day moving average of $17.44. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Insider Transactions at Flywire

In other news, CTO David R. King sold 3,504 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Flywire 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 transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at $31,377,892.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David R. King sold 3,504 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,966 shares of company stock worth $480,143. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

Hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC increased its stake in shares of Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after purchasing an additional 6,519,598 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Flywire by 253.3% in the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after purchasing an additional 1,407,180 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Flywire in the 2nd quarter valued at $12,642,000. Blair William & Co. IL increased its stake in shares of Flywire by 33.4% in the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock valued at $29,678,000 after purchasing an additional 453,183 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of Flywire by 10.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock valued at $120,018,000 after purchasing an additional 450,760 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

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.