Principal Financial Group Inc. Grows Position in Flywire Co. (NASDAQ:FLYW)

Principal Financial Group Inc. increased its position in shares of Flywire Co. (NASDAQ:FLYWGet Rating) by 32.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 937,390 shares of the company’s stock after purchasing an additional 230,426 shares during the period. Principal Financial Group Inc.’s holdings in Flywire were worth $16,526,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FLYW. Woodline Partners LP boosted its position in Flywire by 177.4% in the 1st quarter. Woodline Partners LP now owns 1,056,270 shares of the company’s stock valued at $32,301,000 after buying an additional 675,455 shares during the period. Victory Capital Management Inc. boosted its position in Flywire by 130.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,003,167 shares of the company’s stock valued at $17,687,000 after buying an additional 567,459 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Flywire by 86.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,172,641 shares of the company’s stock valued at $20,673,000 after buying an additional 542,177 shares during the period. Phase 2 Partners LLC bought a new stake in shares of Flywire in the 1st quarter valued at about $16,003,000. Finally, Walleye Capital LLC bought a new stake in shares of Flywire in the 2nd quarter valued at about $5,942,000. 73.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FLYW has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on shares of Flywire from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, November 9th. Raymond James reduced their price objective on shares of Flywire from $33.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 10th. Truist Financial reduced their price objective on shares of Flywire from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, October 13th. Loop Capital began coverage on shares of Flywire in a research note on Monday, October 24th. They set a “buy” rating and a $25.00 price objective for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of Flywire from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.25.

Flywire Stock Up 4.7 %

NASDAQ:FLYW opened at $21.11 on Thursday. The company has a market cap of $2.29 billion, a PE ratio of -44.62 and a beta of 1.28. Flywire Co. has a twelve month low of $14.56 and a twelve month high of $43.17. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $21.98 and its two-hundred day moving average is $21.71.

Insiders Place Their Bets

In other Flywire news, Director Jo Natauri sold 81,229 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $20.49, for a total transaction of $1,664,382.21. Following the sale, the director now owns 1,002,789 shares of the company’s stock, valued at approximately $20,547,146.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Flywire news, Director Jo Natauri sold 81,229 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $20.49, for a total transaction of $1,664,382.21. Following the sale, the director now owns 1,002,789 shares of the company’s stock, valued at approximately $20,547,146.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Massaro sold 4,830 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $24.80, for a total transaction of $119,784.00. Following the sale, the chief executive officer now directly owns 1,129,350 shares in the company, valued at approximately $28,007,880. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,254,936 shares of company stock valued at $29,358,419. Insiders own 37.50% of the company’s stock.

Flywire Company Profile

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Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.

Further Reading

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Institutional Ownership by Quarter for Flywire (NASDAQ:FLYW)

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