Zurcher Kantonalbank Zurich Cantonalbank Has $551,000 Holdings in Flywire Co. (NASDAQ:FLYW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Flywire Co. (NASDAQ:FLYW) by 39.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,788 shares of the company’s stock after buying an additional 6,669 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flywire were worth $551,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FLYW. RiverPark Advisors LLC boosted its stake in shares of 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 purchasing an additional 589 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in Flywire during the fourth quarter worth about $176,000. OneAscent Financial Services LLC acquired a new stake in shares of Flywire during the fourth quarter worth approximately $212,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Flywire in the third quarter valued at approximately $224,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Flywire in the 4th quarter worth approximately $276,000. 95.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FLYW shares. Morgan Stanley cut Flywire from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $27.00 to $30.00 in a report on Friday, March 1st. JPMorgan Chase & Co. upped their price target on shares of Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. William Blair reissued an “outperform” rating on shares of Flywire in a report on Wednesday, February 28th. Citigroup dropped their target price on shares of Flywire from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Finally, Oppenheimer began coverage on shares of Flywire in a research note on Tuesday, January 23rd. They set an “outperform” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flywire currently has a consensus rating of “Moderate Buy” and an average target price of $34.27.

Insiders Place Their Bets

In other news, CEO Michael Massaro sold 13,043 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were 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 owns 1,655,673 shares of the company’s stock, valued at approximately $39,852,049.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Flywire news, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total transaction of $313,945.01. Following the transaction, the chief executive officer now directly owns 1,655,673 shares in the company, valued at $39,852,049.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Rob Orgel sold 17,150 shares of the stock in a transaction dated 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 owns 468,285 shares of the company’s stock, valued at $12,784,180.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,800 shares of company stock worth $3,743,582. Company insiders own 5.00% of the company’s stock.

Flywire Stock Down 0.5 %

Shares of Flywire stock opened at $20.40 on Thursday. Flywire Co. has a 12 month low of $18.65 and a 12 month high of $35.80. The business has a fifty day simple moving average of $23.92 and a 200 day simple moving average of $23.47. The stock has a market cap of $2.51 billion, a PE ratio of -226.67, a price-to-earnings-growth ratio of 7.77 and a beta of 1.02.

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