Jennison Associates LLC Increases Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Jennison Associates LLC boosted its position in Flywire Co. (NASDAQ:FLYW) by 4,619.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 810,027 shares of the company’s stock after purchasing an additional 792,863 shares during the period. Jennison Associates LLC’s holdings in Flywire were worth $18,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FLYW. Handelsbanken Fonder AB raised its stake in Flywire by 36.5% during the 4th quarter. Handelsbanken Fonder AB now owns 15,700 shares of the company’s stock valued at $363,000 after purchasing an additional 4,200 shares during the period. Avior Wealth Management LLC raised its stake in Flywire by 21.6% during the 4th quarter. Avior Wealth Management LLC now owns 16,996 shares of the company’s stock valued at $393,000 after purchasing an additional 3,015 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Flywire by 39.0% during 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. Vontobel Holding Ltd. bought a new stake in Flywire during the 4th quarter valued at approximately $690,000. Finally, Peregrine Capital Management LLC raised its stake in Flywire by 18.5% during the 4th quarter. Peregrine Capital Management LLC now owns 400,464 shares of the company’s stock valued at $9,271,000 after purchasing an additional 62,639 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Flywire news, COO Rob Orgel sold 17,150 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $468,195.00. Following the completion of the sale, the chief operating officer now directly owns 468,285 shares in the company, valued at approximately $12,784,180.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Flywire news, COO Rob Orgel sold 17,150 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $468,195.00. Following the completion of the sale, the chief operating officer now directly owns 468,285 shares in the company, valued at approximately $12,784,180.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter Butterfield sold 4,730 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $129,129.00. Following the completion of the sale, the general counsel now owns 214,678 shares of the company’s stock, valued at $5,860,709.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,800 shares of company stock worth $3,743,582. 5.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FLYW has been the topic of several recent analyst reports. Citigroup decreased their target price on Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Oppenheimer assumed coverage on Flywire in a research note on Tuesday, January 23rd. They set an “outperform” rating and a $25.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research note on Wednesday, February 28th. Truist Financial lifted their price objective on Flywire from $30.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada lifted their price objective on Flywire from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and a consensus price target of $34.27.

Flywire Stock Performance

FLYW opened at $20.55 on Friday. The business has a fifty day moving average of $24.05 and a 200 day moving average of $23.74. Flywire Co. has a 52-week low of $18.65 and a 52-week high of $35.80.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The company had revenue of $100.55 million during the quarter, compared to analysts’ expectations of $88.52 million. During the same quarter in the previous year, the business earned ($0.01) EPS. Flywire’s revenue was up 37.6% compared to the same quarter last year. On average, analysts expect that Flywire Co. will post 0.05 EPS for the current fiscal year.

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.