Jennison Associates LLC Boosts Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Jennison Associates LLC raised its holdings in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 5.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,226,750 shares of the company's stock after purchasing an additional 112,218 shares during the period. Jennison Associates LLC owned 1.78% of Flywire worth $36,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Flywire by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company's stock worth $269,486,000 after buying an additional 100,704 shares during the last quarter. Natixis increased its stake in Flywire by 657.6% during the 1st quarter. Natixis now owns 75,000 shares of the company's stock valued at $1,861,000 after purchasing an additional 65,100 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company's stock valued at $76,000 after purchasing an additional 954 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Flywire in the first quarter worth about $358,000. Finally, Ascent Group LLC raised its position in shares of Flywire by 10.1% in the first quarter. Ascent Group LLC now owns 14,165 shares of the company's stock worth $351,000 after acquiring an additional 1,300 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.

Analyst Ratings Changes

FLYW has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Flywire from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on shares of Flywire from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Citigroup reduced their price objective on shares of Flywire from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Flywire from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. Finally, Royal Bank of Canada lowered their target price on shares of Flywire from $34.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Four 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. According to data from MarketBeat, Flywire currently has an average rating of "Moderate Buy" and a consensus price target of $24.86.

Insider Activity at Flywire

In other news, CTO David R. King sold 3,504 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the sale, the chief technology officer now owns 616,680 shares of the company's stock, valued at approximately $10,674,730.80. This represents a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Massaro sold 8,629 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $31,377,892.04. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by corporate insiders.

Flywire Stock Down 0.2 %

Shares of FLYW traded down $0.04 on Friday, hitting $22.89. The company's stock had a trading volume of 516,998 shares, compared to its average volume of 1,410,995. The firm's fifty day moving average price is $18.02 and its 200-day moving average price is $17.58. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 152.87, a P/E/G ratio of 4.33 and a beta of 0.95.

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.