Flywire Co. (NASDAQ:FLYW) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its position in shares of Flywire Co. (NASDAQ:FLYW) by 49.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,779 shares of the company’s stock after acquiring an additional 36,753 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.09% of Flywire worth $2,565,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. RiverPark Advisors LLC lifted its holdings in Flywire by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after acquiring an additional 589 shares during the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Flywire during the 4th quarter valued at $176,000. OneAscent Financial Services LLC bought a new stake in shares of Flywire during the 4th quarter worth $212,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Flywire in the 3rd quarter worth $224,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Flywire during the fourth quarter valued at $276,000. Institutional investors own 95.90% of the company’s stock.

Flywire Price Performance

NASDAQ:FLYW opened at $20.40 on Thursday. The stock has a market cap of $2.51 billion, a P/E ratio of -226.67, a PEG ratio of 7.77 and a beta of 1.02. The company has a fifty day moving average price of $23.92 and a 200 day moving average price of $23.47. Flywire Co. has a one year low of $18.65 and a one year high of $35.80.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.09. The business had revenue of $100.55 million during the quarter, compared to analysts’ expectations of $88.52 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The firm’s revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. As a group, equities research analysts anticipate that Flywire Co. will post 0.05 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on FLYW shares. JPMorgan Chase & Co. boosted their price objective on Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Oppenheimer assumed coverage on shares of Flywire in a research report on Tuesday, January 23rd. They set an “outperform” rating and a $25.00 price objective on the stock. Citigroup decreased their target price on Flywire from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Truist Financial increased 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, Morgan Stanley downgraded Flywire from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $27.00 to $30.00 in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Flywire has a consensus rating of “Moderate Buy” and an average price target of $34.27.

Insider Buying and Selling

In other news, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the completion of the transaction, the chief executive officer now directly owns 1,655,673 shares of the company’s stock, valued at approximately $39,852,049.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Phillip John Riese sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total value of $1,320,500.00. Following the transaction, the director now directly owns 232,037 shares of the company’s stock, valued at approximately $6,128,097.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Massaro sold 13,043 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the transaction, the chief executive officer now directly owns 1,655,673 shares in the company, valued at approximately $39,852,049.11. The disclosure for this sale can be found here. Insiders sold a total of 141,800 shares of company stock valued at $3,743,582 over the last ninety days. 5.00% of the stock is owned by company insiders.

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.