Next Century Growth Investors LLC Sells 541,253 Shares of Flywire Co. (NASDAQ:FLYW)

Next Century Growth Investors LLC decreased its holdings in Flywire Co. (NASDAQ:FLYW - Free Report) by 44.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 664,779 shares of the company's stock after selling 541,253 shares during the quarter. Next Century Growth Investors LLC owned 0.53% of Flywire worth $13,708,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Flywire in the fourth quarter valued at approximately $35,579,000. Teacher Retirement System of Texas purchased a new position in Flywire during the 4th quarter worth $24,363,000. Jennison Associates LLC grew its stake in shares of Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock worth $70,238,000 after acquiring an additional 1,179,562 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Flywire by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after acquiring an additional 781,711 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Flywire in the fourth quarter valued at about $7,541,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Flywire Stock Performance

NASDAQ FLYW traded down $0.04 during trading hours on Tuesday, hitting $8.61. The company had a trading volume of 1,566,479 shares, compared to its average volume of 1,672,767. The firm has a 50 day simple moving average of $12.29 and a 200 day simple moving average of $17.02. Flywire Co. has a 52 week low of $8.20 and a 52 week high of $23.40. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 57.40, a PEG ratio of 1.41 and a beta of 1.22.

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Flywire (NASDAQ:FLYW - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $112.80 million during the quarter, compared to analysts' expectations of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, research analysts forecast that Flywire Co. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

FLYW has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Flywire from $15.00 to $11.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. UBS Group cut Flywire from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their target price on Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, BTIG Research lowered shares of Flywire from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $17.00.

Insiders Place Their Bets

In related news, General Counsel Peter Butterfield sold 5,523 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gretchen Howard bought 8,889 shares of the business's stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.94 per share, with a total value of $97,245.66. Following the purchase, the director now owns 30,770 shares of the company's stock, valued at $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company's stock.

Flywire Company 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.