Flywire Co. (NASDAQ:FLYW) Position Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Flywire Co. (NASDAQ:FLYW - Free Report) by 75.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 235,409 shares of the company's stock after selling 704,982 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.19% of Flywire worth $3,858,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company's stock worth $45,892,000 after purchasing an additional 17,062 shares in the last quarter. Jennison Associates LLC grew its position in shares of Flywire by 5.3% in the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company's stock worth $36,496,000 after buying an additional 112,218 shares during the last quarter. Curi RMB Capital LLC purchased a new position in Flywire during the 3rd quarter valued at $1,143,000. FMR LLC raised its stake in Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company's stock worth $154,199,000 after buying an additional 326,120 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company's stock valued at $102,059,000 after buying an additional 1,006,516 shares during the period. Institutional investors own 95.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FLYW. B. Riley reiterated a "buy" rating and issued a $30.00 price target on shares of Flywire in a research note on Wednesday, October 2nd. The Goldman Sachs Group lifted their target price on Flywire from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Raymond James boosted their price target on Flywire from $23.00 to $27.00 and gave the stock a "strong-buy" rating in a report on Friday, November 8th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Flywire in a report on Thursday, January 9th. Finally, Morgan Stanley boosted their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.36.

Flywire Stock Down 0.3 %

FLYW stock traded down $0.06 on Friday, reaching $20.03. 1,026,591 shares of the company's stock were exchanged, compared to its average volume of 1,039,711. The firm has a market cap of $2.49 billion, a PE ratio of 133.53, a P/E/G ratio of 1.47 and a beta of 1.10. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54. The stock has a fifty day moving average of $20.99 and a 200-day moving average of $18.66.

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.