Flywire (NASDAQ:FLYW) Given New $21.00 Price Target at Morgan Stanley

Flywire (NASDAQ:FLYW) had its price target upped by Morgan Stanley from $20.00 to $21.00 in a report issued on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently weighed in on FLYW. B. Riley reissued a “buy” rating and set a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Citigroup decreased their target price on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.86.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $21.77 on Monday. The stock’s 50-day simple moving average is $17.54 and its 200-day simple moving average is $17.52. The firm has a market capitalization of $2.73 billion, a PE ratio of 145.13, a price-to-earnings-growth ratio of 5.66 and a beta of 0.95. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Insider Buying and Selling at Flywire

In other Flywire news, CTO David R. King sold 3,353 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction 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. The trade was a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction dated 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 transaction, the general counsel now owns 273,517 shares of the company’s stock, valued at $4,934,246.68. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. William Blair Investment Management LLC boosted its stake in shares of Flywire by 125.1% during 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Flywire by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after buying an additional 100,704 shares during the last quarter. FMR LLC boosted its position in shares of Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after buying an additional 326,120 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after acquiring an additional 1,006,516 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after acquiring an additional 112,218 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.