Flywire Co. (NASDAQ:FLYW) Shares Sold by RiverPark Advisors LLC

RiverPark Advisors LLC lessened its stake in shares of Flywire Co. (NASDAQ:FLYW) by 16.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,539 shares of the company’s stock after selling 2,603 shares during the period. RiverPark Advisors LLC’s holdings in Flywire were worth $222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Curi RMB Capital LLC acquired a new stake in shares of Flywire during the 3rd quarter valued at $1,143,000. Olympiad Research LP acquired a new stake in Flywire during the 3rd quarter valued at $206,000. Harbor Capital Advisors Inc. raised its stake in Flywire by 87.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 223,244 shares of the company’s stock valued at $3,659,000 after purchasing an additional 104,336 shares during the period. Values First Advisors Inc. raised its stake in Flywire by 13.6% during the 3rd quarter. Values First Advisors Inc. now owns 31,747 shares of the company’s stock valued at $520,000 after purchasing an additional 3,805 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Flywire in the third quarter worth $4,843,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

FLYW has been the subject of a number of recent research reports. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Citigroup decreased their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. 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 upped their price target on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. 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 data from MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $24.86.

Flywire Stock Performance

NASDAQ FLYW opened at $21.93 on Friday. The firm has a 50-day simple moving average of $17.63 and a 200 day simple moving average of $17.50. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54. The stock has a market cap of $2.75 billion, a PE ratio of 146.20, a PEG ratio of 4.23 and a beta of 0.95.

Insider Buying and Selling

In other news, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the sale, the general counsel now owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO David R. King sold 3,504 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the sale, the chief technology officer now directly owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock valued at $480,143 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

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.