Principal Financial Group Inc. Has $185,000 Stock Position in Flywire Co. (NASDAQ:FLYW)

Principal Financial Group Inc. lessened its stake in shares of Flywire Co. (NASDAQ:FLYW) by 30.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

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

Insider Activity at Flywire

In related news, CEO Michael Massaro sold 8,629 shares of the firm’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 $155,667.16. Following the transaction, the chief executive officer now directly owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. This trade represents a 0.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Rob Orgel sold 4,552 shares of Flywire stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $82,118.08. Following the completion of the transaction, the chief operating officer now owns 477,472 shares in the company, valued at $8,613,594.88. This trade represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,966 shares of company stock valued at $480,143. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

FLYW has been the topic of several research analyst reports. Citigroup lowered their target price on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. BTIG Research cut their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $20.00 to $18.00 in a research note on Friday, October 11th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.86.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $22.95 on Tuesday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 153.00, a P/E/G ratio of 4.42 and a beta of 0.95. The business has a 50-day moving average of $18.22 and a two-hundred day moving average of $17.62. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

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.