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 company’s stock in a transaction 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 sale, the chief technology officer now directly owns 620,184 shares in the company, valued at approximately $11,188,119.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flywire Stock Performance

NASDAQ FLYW traded up $0.16 during trading hours on Thursday, hitting $17.54. 676,353 shares of the company’s stock were exchanged, compared to its average volume of 1,487,326. The business’s 50 day moving average is $17.55 and its 200-day moving average is $19.78. Flywire Co. has a 12-month low of $15.19 and a 12-month high of $33.65. The firm has a market capitalization of $2.18 billion, a P/E ratio of -158.00, a price-to-earnings-growth ratio of 6.69 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The business had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $100.30 million. During the same quarter last year, the company posted ($0.15) earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Flywire Co. will post 0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FLYW shares. The Goldman Sachs Group lowered their target price on Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. UBS Group lowered their target price on Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Wedbush reissued a “neutral” rating and issued a $18.00 target price on shares of Flywire in a report on Thursday, May 23rd. William Blair reissued an “outperform” rating on shares of Flywire in a report on Wednesday, May 8th. Finally, Royal Bank of Canada lowered their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.92.

Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank increased its stake in Flywire by 3.3% during the fourth quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock worth $353,000 after acquiring an additional 486 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Flywire by 3.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after acquiring an additional 702 shares during the last quarter. Assetmark Inc. increased its stake in Flywire by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after acquiring an additional 733 shares during the last quarter. Arizona State Retirement System increased its stake in Flywire by 3.1% during the second quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock worth $499,000 after acquiring an additional 908 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Flywire by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after acquiring an additional 954 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.