13,970 Shares in Remitly Global, Inc. (NASDAQ:RELY) Bought by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in Remitly Global, Inc. (NASDAQ:RELY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,970 shares of the financial services provider's stock, valued at approximately $315,000.

Several other large investors have also added to or reduced their stakes in RELY. Principal Financial Group Inc. boosted its position in Remitly Global by 10,213.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider's stock valued at $27,058,000 after acquiring an additional 2,001,198 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Remitly Global by 110.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,060,634 shares of the financial services provider's stock valued at $23,939,000 after purchasing an additional 557,168 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in Remitly Global by 13.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider's stock worth $47,578,000 after purchasing an additional 431,987 shares during the period. Lisanti Capital Growth LLC bought a new position in Remitly Global in the fourth quarter worth $6,324,000. Finally, Barclays PLC lifted its position in Remitly Global by 19.2% during the third quarter. Barclays PLC now owns 1,408,402 shares of the financial services provider's stock valued at $18,858,000 after buying an additional 227,231 shares during the period. Institutional investors own 74.25% of the company's stock.

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Remitly Global Stock Down 1.2 %

Shares of Remitly Global stock traded down $0.26 on Friday, reaching $20.93. The company's stock had a trading volume of 2,021,354 shares, compared to its average volume of 1,908,369. Remitly Global, Inc. has a 52 week low of $11.60 and a 52 week high of $27.32. The firm's fifty day simple moving average is $23.12 and its two-hundred day simple moving average is $19.97. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -110.16 and a beta of 0.07.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RELY. William Blair reaffirmed an "outperform" rating on shares of Remitly Global in a research report on Thursday, February 20th. BMO Capital Markets raised their target price on shares of Remitly Global from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. boosted their price target on Remitly Global from $21.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Wells Fargo & Company raised their price objective on Remitly Global from $21.00 to $25.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Finally, Barclays boosted their target price on Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.13.

Insider Transactions at Remitly Global

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.31, for a total value of $281,597.73. Following the transaction, the chief executive officer now directly owns 4,329,513 shares of the company's stock, valued at approximately $83,602,896.03. This trade represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ankur Sinha sold 5,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.01, for a total transaction of $95,050.00. Following the sale, the insider now directly owns 397,805 shares of the company's stock, valued at $7,562,273.05. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,749 shares of company stock worth $1,081,736 over the last three months. 8.10% of the stock is currently owned by company insiders.

Remitly Global 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.