Blueshift Asset Management LLC Takes $450,000 Position in Remitly Global, Inc. (NASDAQ:RELY)

Blueshift Asset Management LLC purchased a new stake in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 19,954 shares of the financial services provider's stock, valued at approximately $450,000.

A number of other large investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Remitly Global during the 4th quarter valued at about $28,000. R Squared Ltd purchased a new position in Remitly Global in the fourth quarter worth about $89,000. Advisors Asset Management Inc. increased its stake in Remitly Global by 58.7% during the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider's stock worth $53,000 after acquiring an additional 1,466 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Remitly Global during the fourth quarter valued at approximately $135,000. Finally, KBC Group NV lifted its stake in shares of Remitly Global by 49.7% in the 4th quarter. KBC Group NV now owns 6,121 shares of the financial services provider's stock valued at $138,000 after purchasing an additional 2,033 shares during the last quarter. Institutional investors own 74.25% of the company's stock.

Insider Transactions at Remitly Global

In related news, insider Ankur Sinha sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.01, for a total value of $95,050.00. Following the completion of the transaction, the insider now owns 397,805 shares of the company's stock, valued at $7,562,273.05. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $25.21, for a total value of $367,637.43. Following the completion of the transaction, the chief executive officer now owns 4,358,679 shares in the company, valued at $109,882,297.59. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,749 shares of company stock valued at $1,081,736. 8.10% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

RELY has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Barclays increased their target price on shares of Remitly Global from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Wells Fargo & Company lifted their price target on shares of Remitly Global from $21.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. BMO Capital Markets upped their price target on shares of Remitly Global from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Remitly Global from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Remitly Global has an average rating of "Moderate Buy" and an average price target of $28.13.

Remitly Global Stock Performance

Remitly Global stock traded up $0.06 during trading hours on Tuesday, hitting $21.02. The company had a trading volume of 1,858,916 shares, compared to its average volume of 1,772,059. The firm has a market cap of $4.22 billion, a P/E ratio of -110.63 and a beta of 0.07. The company has a 50-day moving average price of $23.22 and a two-hundred day moving average price of $19.90. Remitly Global, Inc. has a 1 year low of $11.60 and a 1 year high of $27.32.

Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.04. The firm had revenue of $351.90 million during the quarter, compared to analyst estimates of $343.67 million. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. As a group, equities research analysts anticipate that Remitly Global, Inc. will post -0.04 EPS for the current year.

Remitly Global Company Profile

Remitly Global, Inc provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 170 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.