Flywire (NASDAQ:FLYW) Given New $27.00 Price Target at Raymond James

Flywire (NASDAQ:FLYW) had its price objective hoisted by Raymond James from $23.00 to $27.00 in a research note issued to investors on Friday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Other equities analysts have also recently issued reports about the company. B. Riley reaffirmed a “buy” rating and issued a $30.00 target price on shares of Flywire in a report on Wednesday, October 2nd. Citigroup lowered their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. BTIG Research dropped their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.86.

Flywire Trading Up 10.4 %

Shares of FLYW stock opened at $23.17 on Friday. Flywire has a 12-month low of $15.19 and a 12-month high of $31.54. The stock has a market capitalization of $2.90 billion, a P/E ratio of 154.47, a P/E/G ratio of 9.00 and a beta of 0.95. The firm’s 50 day moving average is $17.28 and its 200 day moving average is $17.44.

Insiders Place Their Bets

In other news, CTO David R. King sold 3,353 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the sale, the chief technology officer now directly owns 620,184 shares in the company, valued at approximately $11,188,119.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Flywire news, CTO David R. King sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $60,488.12. Following the completion of the sale, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at $11,188,119.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the transaction, the general counsel now directly owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock valued at $480,143 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC grew its holdings in shares of Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after acquiring an additional 6,519,598 shares during the period. Primecap Management Co. CA grew its holdings in Flywire by 253.3% in the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after purchasing an additional 1,407,180 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Flywire in the second quarter valued at $12,642,000. Blair William & Co. IL raised its stake in shares of Flywire by 33.4% during the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after buying an additional 453,183 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Flywire by 10.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock worth $120,018,000 after buying an additional 450,760 shares in 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.