Morgan Stanley Issues Positive Forecast for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW - Get Free Report) had its target price hoisted by investment analysts at Morgan Stanley from $20.00 to $21.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential downside of 8.74% from the company's current price.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Flywire from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Wells Fargo & Company cut shares of Flywire from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Raymond James lifted their price objective on shares of Flywire from $23.00 to $27.00 and gave the company a "strong-buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Flywire from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley restated a "buy" rating and issued a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Flywire has an average rating of "Moderate Buy" and a consensus price target of $24.86.

Flywire Price Performance

Flywire stock traded up $2.02 during mid-day trading on Monday, reaching $23.01. 1,699,960 shares of the company traded hands, compared to its average volume of 1,401,570. The firm's 50 day moving average price is $17.18 and its 200 day moving average price is $17.43. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 141.00, a P/E/G ratio of 9.00 and a beta of 0.95. Flywire has a 52-week low of $15.19 and a 52-week high of $31.54.

Insider Buying and Selling at Flywire

In other news, CEO Michael Massaro sold 8,629 shares of Flywire 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 transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at $31,377,892.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael Massaro sold 8,629 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $155,667.16. Following the sale, the chief executive officer now directly owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 1,769 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the sale, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,966 shares of company stock worth $480,143. Corporate insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Flywire

Institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC lifted its stake in Flywire by 125.1% in the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company's stock valued at $192,284,000 after buying an additional 6,519,598 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company's stock worth $269,486,000 after purchasing an additional 100,704 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Flywire by 10.3% during the first quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company's stock worth $120,018,000 after acquiring an additional 450,760 shares during the period. Jennison Associates LLC grew its holdings in Flywire by 5.3% during the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company's stock worth $36,496,000 after acquiring an additional 112,218 shares during the period. Finally, Primecap Management Co. CA grew its holdings in Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company's stock worth $32,168,000 after acquiring an additional 1,407,180 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

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.