Peter Butterfield Sells 1,480 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 1,480 shares of Flywire stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.02, for a total transaction of $26,669.60. Following the completion of the transaction, the general counsel directly owned 671,482 shares in the company, valued at $12,100,105.64. This represents a 0.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Peter Butterfield also recently made the following trade(s):

• On Thursday, March 5th, Peter Butterfield sold 9,009 shares of Flywire stock. The stock was sold at an average price of $13.05, for a total transaction of $117,567.45.

Flywire Stock Performance

FLYW stock opened at $16.66 on Wednesday. The stock has a market cap of $2.02 billion, a P/E ratio of 72.43, a P/E/G ratio of 1.23 and a beta of 1.30. The firm has a 50 day simple moving average of $13.09 and a 200 day simple moving average of $13.26. Flywire Corporation has a 52 week low of $9.97 and a 52 week high of $18.05.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. The business had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Sell-side analysts predict that Flywire Corporation will post 0.39 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on FLYW. UBS Group raised their price objective on shares of Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Flywire from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Citigroup lifted their price target on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Raymond James Financial restated an “outperform” rating and issued a $21.00 target price on shares of Flywire in a research note on Wednesday, May 6th. Finally, Stephens upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $17.00 to $19.00 in a research note on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Flywire currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Flywire by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock valued at $21,962,000 after acquiring an additional 295,960 shares during the last quarter. KBC Group NV acquired a new position in Flywire during the 1st quarter worth approximately $38,000. Roubaix Capital LLC acquired a new position in Flywire during the 1st quarter worth approximately $2,685,000. Jennison Associates LLC boosted its holdings in shares of Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after buying an additional 878,248 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Flywire in the 1st quarter valued at approximately $92,000. 95.90% of the stock is owned by institutional investors.

About Flywire

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.