JPMorgan Chase & Co. Sells 704,982 Shares of Flywire Co. (NASDAQ:FLYW)

JPMorgan Chase & Co. lowered its position in Flywire Co. (NASDAQ:FLYW) by 75.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,409 shares of the company’s stock after selling 704,982 shares during the quarter. JPMorgan Chase & Co. owned about 0.19% of Flywire worth $3,858,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in shares of Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after acquiring an additional 539 shares during the last quarter. Bullseye Asset Management LLC lifted its position in shares of Flywire by 0.7% during the third quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after purchasing an additional 1,000 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Flywire by 6.2% during the second quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $319,000 after purchasing an additional 1,128 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Flywire by 7.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 21,295 shares of the company’s stock worth $349,000 after purchasing an additional 1,411 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in Flywire by 12.3% in the 3rd quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock worth $219,000 after buying an additional 1,463 shares during the period. Institutional investors own 95.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FLYW shares. Raymond James boosted their price objective on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. B. Riley reaffirmed a “buy” rating and set a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Morgan Stanley raised their price target on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Flywire in a research note on Thursday, January 9th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.36.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $20.03 on Friday. The business’s 50-day moving average is $20.99 and its 200 day moving average is $18.66. Flywire Co. has a 1 year low of $15.19 and a 1 year high of $31.54. The firm has a market capitalization of $2.49 billion, a P/E ratio of 133.53, a P/E/G ratio of 1.47 and a beta of 1.10.

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.