Pictet Asset Management Holding SA Has $332,000 Stake in Flywire Co. (NASDAQ:FLYW)

Pictet Asset Management Holding SA increased its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 25.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,113 shares of the company’s stock after acquiring an additional 3,273 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Flywire were worth $332,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FLYW. Raymond James Financial Inc. acquired a new position in shares of Flywire in the fourth quarter valued at $35,579,000. Teacher Retirement System of Texas bought a new stake in shares of Flywire during the 4th quarter worth about $24,363,000. Jennison Associates LLC grew its stake in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after buying an additional 1,179,562 shares during the last quarter. Vanguard Group Inc. raised its holdings in Flywire by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after acquiring an additional 781,711 shares during the period. Finally, Norges Bank acquired a new stake in Flywire during the fourth quarter worth approximately $7,541,000. Institutional investors own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In related news, Director Gretchen Howard purchased 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the purchase, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FLYW shares. Wells Fargo & Company decreased their target price on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. UBS Group downgraded Flywire from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $15.00 in a report on Wednesday, February 26th. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their price target on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Flywire has a consensus rating of “Hold” and a consensus target price of $17.92.

Flywire Trading Down 7.9 %

Shares of Flywire stock opened at $8.42 on Friday. The company has a 50 day moving average of $12.97 and a 200-day moving average of $17.18. The company has a market cap of $1.04 billion, a PE ratio of 56.13, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. Flywire Co. has a 1-year low of $8.32 and a 1-year high of $23.40.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Research analysts forecast that Flywire Co. will post 0.14 earnings per share for the current year.

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.