William Blair Investment Management LLC Decreases Stake in Flywire Co. (NASDAQ:FLYW)

William Blair Investment Management LLC lessened its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,332,671 shares of the company's stock after selling 1,243,193 shares during the period. William Blair Investment Management LLC owned 8.30% of Flywire worth $213,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Flywire by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company's stock valued at $45,892,000 after purchasing an additional 17,062 shares during the last quarter. Versor Investments LP purchased a new position in Flywire during the 4th quarter valued at about $1,118,000. Jennison Associates LLC raised its holdings 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 valued at $36,496,000 after purchasing an additional 112,218 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Flywire by 345.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company's stock valued at $1,980,000 after buying an additional 74,465 shares during the period. Finally, 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. Hedge funds and other institutional investors own 95.90% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FLYW shares. Citigroup cut their price target on Flywire from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Raymond James cut shares of Flywire from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. The Goldman Sachs Group lowered Flywire from a "buy" rating to a "neutral" rating and dropped their target price for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a "buy" rating to a "hold" rating and cut their price target for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $19.23.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gretchen Howard acquired 8,889 shares of the company's stock in a transaction dated 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 completion of the purchase, the director now directly owns 30,770 shares of the company's stock, valued at approximately $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.

Flywire Stock Down 1.6 %

Shares of Flywire stock traded down $0.16 during trading hours on Friday, reaching $9.96. 2,690,757 shares of the company's stock were exchanged, compared to its average volume of 1,540,123. The business has a fifty day moving average of $16.34 and a two-hundred day moving average of $18.12. The company has a market capitalization of $1.23 billion, a P/E ratio of 66.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. Flywire Co. has a 1 year low of $8.62 and a 1 year high of $25.95.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, research analysts predict that Flywire Co. will post 0.14 EPS for the current year.

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.