Flywire (NASDAQ:FLYW) Given New $26.00 Price Target at Deutsche Bank Aktiengesellschaft

Flywire (NASDAQ:FLYW) had its target price raised by Deutsche Bank Aktiengesellschaft from $23.00 to $26.00 in a report published on Monday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other analysts also recently issued reports on FLYW. JPMorgan Chase & Co. lifted their price target on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. BTIG Research dropped 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. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Citigroup lowered their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley reiterated a “buy” rating and issued a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and an average target price of $25.29.

Flywire Stock Performance

Shares of FLYW stock opened at $23.14 on Monday. The company has a market capitalization of $2.88 billion, a PE ratio of 151.93, a price-to-earnings-growth ratio of 4.38 and a beta of 0.95. Flywire has a 52-week low of $15.19 and a 52-week high of $31.54. The business’s fifty day moving average is $18.70 and its 200 day moving average is $17.79.

Insider Buying and Selling at Flywire

In other Flywire news, CTO David R. King sold 3,504 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rob Orgel sold 3,824 shares of the 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 approximately $8,198,846.88. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,663 shares of company stock worth $149,957. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flywire

Several hedge funds have recently made changes to their positions in the business. Jennison Associates LLC lifted its stake in Flywire by 5.3% in the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after acquiring an additional 112,218 shares during the period. Curi RMB Capital LLC purchased a new stake in shares of Flywire in the 3rd quarter worth about $1,143,000. Harbor Capital Advisors Inc. boosted its stake in shares of Flywire by 139.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company’s stock valued at $1,949,000 after purchasing an additional 69,304 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after buying an additional 1,006,516 shares during the period. Finally, Ensign Peak Advisors Inc bought a new position in Flywire in the second quarter worth about $734,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.