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

Jennison Associates LLC lifted its holdings in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 4,619.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 810,027 shares of the company's stock after acquiring an additional 792,863 shares during the quarter. Jennison Associates LLC owned approximately 0.67% of Flywire worth $18,752,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new stake in Flywire in the 3rd quarter valued at $83,000. Envestnet Portfolio Solutions Inc. bought a new stake in Flywire in the 3rd quarter valued at $224,000. Handelsinvest Investeringsforvaltning bought a new stake in Flywire in the 4th quarter valued at $176,000. OneAscent Financial Services LLC acquired a new position in Flywire in the 4th quarter valued at $212,000. Finally, Olympiad Research LP acquired a new position in Flywire in the 3rd quarter valued at $317,000. 95.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on FLYW shares. UBS Group lifted their price objective on Flywire from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, February 28th. Oppenheimer started coverage on Flywire in a report on Tuesday, January 23rd. They issued an "outperform" rating and a $25.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Flywire from $29.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. Royal Bank of Canada boosted their price target on Flywire from $36.00 to $41.00 and gave the stock an "outperform" rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group boosted their price target on Flywire from $29.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.27.

Insider Buying and Selling at Flywire

In other news, General Counsel Peter Butterfield sold 4,730 shares of the firm's stock in a transaction that occurred 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 transaction, the general counsel now owns 214,678 shares in the company, valued at $5,860,709.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO David R. King sold 9,366 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the transaction, the chief technology officer now owns 621,568 shares in the company, valued at $16,968,806.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 4,730 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $129,129.00. Following the completion of the transaction, the general counsel now owns 214,678 shares in the company, valued at approximately $5,860,709.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,800 shares of company stock valued at $3,743,582. Company insiders own 5.00% of the company's stock.

Flywire Stock Performance

Flywire stock traded up $0.24 during mid-day trading on Friday, reaching $20.79. The stock had a trading volume of 710,397 shares, compared to its average volume of 1,499,039. Flywire Co. has a fifty-two week low of $18.65 and a fifty-two week high of $35.80. The stock's 50-day simple moving average is $24.05 and its 200-day simple moving average is $23.74. The firm has a market capitalization of $2.55 billion, a PE ratio of -228.31, a price-to-earnings-growth ratio of 7.95 and a beta of 1.02.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 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 firm had revenue of $100.55 million during the quarter, compared to analysts' expectations of $88.52 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The company's revenue for the quarter was up 37.6% compared to the same quarter last year. On average, research analysts forecast that Flywire Co. will post 0.05 earnings per share 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.