CIBC Private Wealth Group LLC bought a new position in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,220 shares of the financial services provider's stock, valued at approximately $1,647,000.
A number of other large investors also recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in Remitly Global during the fourth quarter worth about $28,000. R Squared Ltd acquired a new stake in shares of Remitly Global during the 4th quarter worth approximately $89,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Remitly Global in the 4th quarter worth approximately $135,000. KBC Group NV boosted its position in Remitly Global by 49.7% during 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 period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Remitly Global during the 4th quarter worth $155,000. 74.25% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $23.14, for a total value of $337,450.62. Following the transaction, the chief executive officer now directly owns 4,387,845 shares of the company's stock, valued at $101,534,733.30. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ankur Sinha sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.01, for a total transaction of $95,050.00. Following the completion of the transaction, the insider now directly owns 397,805 shares of the company's stock, valued at $7,562,273.05. This represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,749 shares of company stock valued at $1,081,736. 8.10% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on RELY shares. Barclays raised their target price on Remitly Global from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. The Goldman Sachs Group reduced their target price on shares of Remitly Global from $33.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their price target on shares of Remitly Global from $21.00 to $25.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. BMO Capital Markets raised their target price on Remitly Global from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, William Blair reissued an "outperform" rating on shares of Remitly Global in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Remitly Global currently has an average rating of "Moderate Buy" and a consensus price target of $27.25.
View Our Latest Report on Remitly Global
Remitly Global Stock Performance
NASDAQ RELY traded up $0.43 on Tuesday, reaching $19.24. The company's stock had a trading volume of 303,692 shares, compared to its average volume of 1,924,950. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $27.32. The firm's 50 day moving average is $22.70 and its two-hundred day moving average is $20.35. The stock has a market cap of $3.86 billion, a PE ratio of -101.11 and a beta of 0.15.
Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.04. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. The firm had revenue of $351.90 million for the quarter, compared to analyst estimates of $343.67 million. Equities research analysts anticipate that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.
About Remitly Global
(
Free Report)
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.
Read More
Before you consider Remitly Global, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Remitly Global wasn't on the list.
While Remitly Global currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
