Insider Selling: Flywire (NASDAQ:FLYW) COO Sells $3,042,660.00 in Stock

Flywire Corporation (NASDAQ:FLYW) COO Rob Orgel sold 178,980 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the completion of the transaction, the chief operating officer directly owned 959,061 shares in the company, valued at $16,304,037. This trade represents a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flywire Price Performance

NASDAQ FLYW opened at $14.40 on Friday. The firm’s fifty day moving average price is $14.22 and its 200 day moving average price is $13.52. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 62.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. Flywire Corporation has a 12 month low of $10.09 and a 12 month high of $18.05.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The firm had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company’s revenue was up 40.9% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. As a group, sell-side analysts forecast that Flywire Corporation will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

FLYW has been the topic of a number of recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Flywire in a research report on Wednesday, May 27th. Morgan Stanley raised their price objective on shares of Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their price objective on shares of Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft raised shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.07.

Institutional Trading of Flywire

Institutional investors have recently added to or reduced their stakes in the stock. Essential Partners LLC boosted its holdings in Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after buying an additional 1,571 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Flywire during the fourth quarter worth about $32,000. KBC Group NV purchased a new stake in Flywire during the first quarter worth about $38,000. Leonteq Securities AG boosted its holdings in Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after buying an additional 2,577 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.