Natixis Advisors L.P. Sells 34,790 Shares of Flywire Co. (NASDAQ:FLYW)

Natixis Advisors L.P. trimmed its stake in shares of Flywire Co. (NASDAQ:FLYW) by 63.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,989 shares of the company’s stock after selling 34,790 shares during the period. Natixis Advisors L.P.’s holdings in Flywire were worth $462,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Flywire by 39.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,788 shares of the company’s stock valued at $551,000 after purchasing an additional 6,669 shares during the period. Northern Trust Corp raised its holdings in shares of Flywire by 8.6% in the third quarter. Northern Trust Corp now owns 946,240 shares of the company’s stock valued at $30,176,000 after purchasing an additional 74,534 shares during the last quarter. Comerica Bank acquired a new position in Flywire during the third quarter worth $10,987,000. Raymond James Financial Services Advisors Inc. increased its stake in Flywire by 255.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 160,919 shares of the company’s stock valued at $3,725,000 after buying an additional 115,691 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Flywire by 176.0% in the 3rd quarter. Barclays PLC now owns 173,122 shares of the company’s stock valued at $5,522,000 after acquiring an additional 110,391 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FLYW has been the subject of several recent research reports. BTIG Research reduced their price target on Flywire from $34.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Morgan Stanley downgraded Flywire from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $27.00 to $30.00 in a research report on Friday, March 1st. Truist Financial lifted their target price on Flywire from $30.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Flywire in a report on Tuesday, February 6th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Citigroup cut their target price on shares of Flywire from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Flywire has an average rating of “Moderate Buy” and a consensus target price of $31.29.

Insider Activity at Flywire

In related news, CTO David R. King sold 9,366 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the transaction, the chief technology officer now owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Michael Massaro sold 28,822 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $786,840.60. Following the completion of the transaction, the chief executive officer now owns 1,743,032 shares of the company’s stock, valued at $47,584,773.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David R. King sold 9,366 shares of Flywire stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $255,691.80. Following the sale, the chief technology officer now owns 621,568 shares in the company, valued at $16,968,806.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,800 shares of company stock valued at $3,743,582. 3.90% of the stock is owned by insiders.

Flywire Trading Down 1.1 %

Shares of Flywire stock opened at $16.60 on Friday. The company has a 50 day moving average of $21.95 and a 200-day moving average of $22.64. The company has a market cap of $2.06 billion, a PE ratio of -150.90, a price-to-earnings-growth ratio of 20.21 and a beta of 1.09. Flywire Co. has a 1-year low of $15.77 and a 1-year high of $35.80.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $114.10 million during the quarter, compared to analyst estimates of $107.81 million. Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business earned ($0.03) earnings per share. Research analysts forecast that Flywire Co. will post 0.02 earnings per share for the current year.

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.