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

Principal Financial Group Inc. lessened its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 30.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,305 shares of the company’s stock after selling 5,009 shares during the quarter. Principal Financial Group Inc.’s holdings in Flywire were worth $185,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Flywire in the 2nd quarter worth about $26,000. Headlands Technologies LLC increased its holdings in Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after buying an additional 1,509 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Flywire in the second quarter valued at approximately $64,000. Advisors Asset Management Inc. grew its position in Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after acquiring an additional 539 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Flywire during the 3rd quarter worth $149,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FLYW. B. Riley reiterated a “buy” rating and issued a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. Raymond James increased their price objective on Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Wells Fargo & Company downgraded Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $20.00 to $18.00 in a report on Friday, October 11th. The Goldman Sachs Group boosted their price objective on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley raised their target price on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.29.

Flywire Price Performance

FLYW opened at $19.26 on Wednesday. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The company has a market capitalization of $2.40 billion, a P/E ratio of 128.40, a P/E/G ratio of 3.03 and a beta of 1.08. The firm’s fifty day moving average price is $20.83 and its two-hundred day moving average price is $18.50.

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.