Sompo Asset Management Co. Ltd. Boosts Stock Position in Flywire Co. (NASDAQ:FLYW)

Sompo Asset Management Co. Ltd. lifted its stake in Flywire Co. (NASDAQ:FLYW) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,060 shares of the company’s stock after purchasing an additional 2,510 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Flywire were worth $558,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its holdings in shares of 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 purchasing an additional 6,519,598 shares during the period. Vanguard Group Inc. grew its stake 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 valued at $269,486,000 after buying an additional 100,704 shares during the period. Jennison Associates LLC increased its holdings in shares of Flywire by 5.3% during 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. Primecap Management Co. CA raised its position in shares of Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after buying an additional 1,407,180 shares during the period. Finally, Blair William & Co. IL lifted its holdings in Flywire by 33.4% in the second quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock valued at $29,678,000 after acquiring an additional 453,183 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley raised their target price on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada reduced their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Raymond James boosted their price target on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. 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.com, Flywire presently has a consensus rating of “Moderate Buy” and an average price target of $24.86.

Flywire Price Performance

FLYW opened at $22.92 on Monday. The business has a fifty day moving average price of $18.12 and a 200 day moving average price of $17.59. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $31.54. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 152.80, a PEG ratio of 4.42 and a beta of 0.95.

Insider Activity

In other news, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the sale, the chief technology officer now directly owns 620,184 shares in the company, valued at approximately $11,188,119.36. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Massaro sold 8,629 shares of the business’s 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 of the company’s stock, valued at approximately $31,377,892.04. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is currently owned by company insiders.

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.