Dakota Wealth Management Takes Position in Remitly Global, Inc. (NASDAQ:RELY)

Dakota Wealth Management acquired a new stake in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,940 shares of the financial services provider's stock, valued at approximately $269,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RELY. XTX Topco Ltd lifted its holdings in shares of Remitly Global by 4.0% during the 3rd quarter. XTX Topco Ltd now owns 14,515 shares of the financial services provider's stock valued at $194,000 after buying an additional 563 shares during the period. Claro Advisors LLC lifted its holdings in Remitly Global by 5.2% in the fourth quarter. Claro Advisors LLC now owns 12,700 shares of the financial services provider's stock valued at $287,000 after acquiring an additional 629 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Remitly Global by 1.4% in the third quarter. The Manufacturers Life Insurance Company now owns 86,561 shares of the financial services provider's stock valued at $1,159,000 after acquiring an additional 1,170 shares during the period. Advisors Asset Management Inc. boosted its position in Remitly Global by 58.7% in the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,466 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Remitly Global by 39.8% during the 3rd quarter. FMR LLC now owns 6,919 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 1,970 shares during the period. Hedge funds and other institutional investors own 74.25% of the company's stock.

Remitly Global Trading Down 2.3 %

Shares of RELY traded down $0.53 during trading hours on Friday, reaching $23.02. 1,473,591 shares of the stock traded hands, compared to its average volume of 1,081,666. Remitly Global, Inc. has a 52-week low of $11.60 and a 52-week high of $23.74. The company has a market cap of $4.56 billion, a P/E ratio of -65.77 and a beta of 0.07. The company's 50-day moving average price is $21.94 and its two-hundred day moving average price is $17.11.

Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07. Remitly Global had a negative return on equity of 11.58% and a negative net margin of 5.63%. The business had revenue of $336.53 million for the quarter, compared to the consensus estimate of $320.71 million. During the same period in the previous year, the business earned ($0.20) earnings per share. The business's revenue was up 39.3% on a year-over-year basis. On average, research analysts forecast that Remitly Global, Inc. will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 14,583 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $23.14, for a total transaction of $337,450.62. Following the sale, the chief executive officer now directly owns 4,387,845 shares of the company's stock, valued at $101,534,733.30. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joshua Hug sold 22,198 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total value of $457,722.76. Following the completion of the sale, the insider now directly owns 3,873,811 shares of the company's stock, valued at $79,877,982.82. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,476 shares of company stock worth $1,202,171 in the last three months. 8.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. JMP Securities raised their price objective on shares of Remitly Global from $22.00 to $25.00 and gave the stock a "market outperform" rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price target on shares of Remitly Global from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. KeyCorp boosted their price objective on shares of Remitly Global from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, Barclays raised their target price on Remitly Global from $20.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $23.13.

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.