Flywire Co. (NASDAQ:FLYW) CTO Sells $60,488.12 in Stock

Flywire Co. (NASDAQ:FLYW) CTO David R. King sold 3,353 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the sale, the chief technology officer now owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Flywire Price Performance

Shares of NASDAQ:FLYW traded up $0.16 during trading on Thursday, reaching $17.54. The company had a trading volume of 676,353 shares, compared to its average volume of 1,487,326. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -158.00, a price-to-earnings-growth ratio of 6.69 and a beta of 0.98. The stock’s fifty day moving average price is $17.55 and its 200 day moving average price is $19.78. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $33.65.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) EPS. On average, equities analysts anticipate that Flywire Co. will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Truist Financial Corp grew its holdings in Flywire by 6.2% during the second 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 period. Point72 Asset Management L.P. acquired a new position in Flywire during the second quarter worth $12,642,000. Quarry LP acquired a new position in Flywire during the second quarter worth $26,000. Creative Planning acquired a new position in Flywire during the second quarter worth $356,000. Finally, Algert Global LLC acquired a new position in Flywire during the second quarter worth $180,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FLYW. Royal Bank of Canada decreased their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company decreased their target price on Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. UBS Group decreased their target price on Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price objective on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, BTIG Research reduced their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.92.

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.