Flywire (NASDAQ:FLYW) Price Target Raised to $21.00 at Morgan Stanley

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

Several other research firms also recently commented on FLYW. Wells Fargo & Company downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. Raymond James increased their price objective on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. BTIG Research dropped their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada decreased their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup dropped their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and a consensus price target of $24.86.

Flywire Trading Down 4.4 %

Shares of FLYW stock opened at $21.63 on Monday. The firm has a fifty day simple moving average of $17.46 and a two-hundred day simple moving average of $17.49. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54. The firm has a market capitalization of $2.71 billion, a PE ratio of 144.20, a price-to-earnings-growth ratio of 5.66 and a beta of 0.95.

Insider Activity at Flywire

In other Flywire news, CTO David R. King sold 3,504 shares of Flywire stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $60,654.24. Following the sale, the chief technology officer now owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David R. King sold 3,504 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the sale, the chief technology officer now owns 616,680 shares in the company, valued at approximately $10,674,730.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flywire

Several large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Flywire during the second quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of Flywire in the first quarter valued at approximately $46,000. Advisors Asset Management Inc. lifted its stake in shares of Flywire by 45.6% during 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 in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Flywire during the 2nd quarter valued at approximately $64,000. Finally, SG Americas Securities LLC bought a new position in Flywire in the 3rd quarter worth approximately $149,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.