Westfield Capital Management Co. LP Buys 1,006,516 Shares of Flywire Co. (NASDAQ:FLYW)

Westfield Capital Management Co. LP grew its stake in Flywire Co. (NASDAQ:FLYW) by 19.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,226,912 shares of the company’s stock after purchasing an additional 1,006,516 shares during the quarter. Westfield Capital Management Co. LP owned approximately 4.97% of Flywire worth $102,059,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FLYW. William Blair Investment Management LLC raised its holdings in Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after acquiring an additional 6,519,598 shares during the period. Vanguard Group Inc. increased its stake in shares of Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after purchasing an additional 100,704 shares during the period. Jennison Associates LLC lifted its holdings in 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 purchasing an additional 112,218 shares during the last quarter. Primecap Management Co. CA boosted its stake in Flywire by 253.3% in the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after purchasing an additional 1,407,180 shares during the period. Finally, Blair William & Co. IL grew its holdings in Flywire by 33.4% in the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock valued at $29,678,000 after buying an additional 453,183 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In other news, CEO Michael Massaro sold 8,629 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $155,667.16. Following the completion of the transaction, the chief executive officer now directly owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. This represents a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 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 value of $31,912.76. Following the sale, the general counsel now owns 273,517 shares in the company, valued at $4,934,246.68. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock worth $480,143 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FLYW shares. Royal Bank of Canada reduced their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley increased their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Raymond James lifted their price target on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. B. Riley restated a “buy” rating and set a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company downgraded Flywire from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Flywire currently has an average rating of “Moderate Buy” and an average price target of $24.86.

Flywire Trading Down 0.0 %

FLYW opened at $22.92 on Friday. The company has a market cap of $2.85 billion, a P/E ratio of 152.80, a PEG ratio of 4.42 and a beta of 0.95. The company’s 50 day moving average is $18.12 and its 200-day moving average is $17.58. Flywire Co. has a 1-year low of $15.19 and a 1-year high of $31.54.

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.