Jennison Associates LLC Grows Stock Position in Flywire Co. (NASDAQ:FLYW)

Jennison Associates LLC raised its stake in Flywire Co. (NASDAQ:FLYW) by 5.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,226,750 shares of the company’s stock after purchasing an additional 112,218 shares during the quarter. Jennison Associates LLC’s holdings in Flywire were worth $36,496,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quarry LP acquired a new stake in Flywire during the 2nd quarter worth approximately $26,000. Headlands Technologies LLC grew its holdings in shares of Flywire by 82.3% during the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after buying an additional 1,509 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Flywire in the 2nd quarter valued at approximately $64,000. Advisors Asset Management Inc. increased its stake in Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after buying an additional 954 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Flywire during the third quarter worth about $149,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLYW has been the topic of a number of recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. Citigroup cut their price target on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. BTIG Research lowered their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Raymond James increased their price target 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. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.86.

Flywire Stock Up 2.5 %

Shares of NASDAQ FLYW opened at $22.93 on Friday. The firm’s 50-day moving average price is $18.02 and its two-hundred day moving average price is $17.58. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $31.54. The stock has a market capitalization of $2.85 billion, a P/E ratio of 152.87, a P/E/G ratio of 4.33 and a beta of 0.95.

Insider Activity

In other Flywire news, CEO Michael Massaro sold 8,629 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 transaction of $155,667.16. Following the completion of the transaction, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Rob Orgel sold 4,552 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $82,118.08. Following the completion of the sale, the chief operating officer now directly owns 477,472 shares in the company, valued at $8,613,594.88. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,966 shares of company stock valued at $480,143. Insiders own 3.90% of the company’s stock.

Flywire 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.