19,061 Shares in Remitly Global, Inc. (NASDAQ:RELY) Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,061 shares of the financial services provider's stock, valued at approximately $430,000.

A number of other institutional investors have also recently made changes to their positions in RELY. WoodTrust Financial Corp boosted its position in Remitly Global by 54.2% in the 3rd quarter. WoodTrust Financial Corp now owns 18,500 shares of the financial services provider's stock worth $248,000 after purchasing an additional 6,500 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Remitly Global by 10,213.8% in 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 during the last quarter. Assetmark Inc. purchased a new stake in shares of Remitly Global in the 3rd quarter valued at approximately $76,000. State of New Jersey Common Pension Fund D purchased a new position in Remitly Global during the third quarter worth about $1,953,000. Finally, GSA Capital Partners LLP raised its holdings in shares of Remitly Global by 30.2% in the 3rd quarter. GSA Capital Partners LLP now owns 262,635 shares of the financial services provider's stock valued at $3,517,000 after buying an additional 60,991 shares during the period. Institutional investors and hedge funds own 74.25% of the company's stock.

Insider Transactions at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm's 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 transaction, the chief executive officer now directly owns 4,358,679 shares in the company, valued at approximately $109,882,297.59. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 43,749 shares of company stock valued at $1,009,289. 8.10% of the stock is owned by insiders.

Remove Ads

Analyst Ratings Changes

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

Remitly Global Stock Up 1.4 %

RELY stock traded up $0.34 during trading on Friday, reaching $24.00. 1,946,495 shares of the company's stock were exchanged, compared to its average volume of 1,949,083. Remitly Global, Inc. has a 1-year low of $11.60 and a 1-year high of $27.32. The firm has a market cap of $4.81 billion, a PE ratio of -126.32 and a beta of 0.07. The company's fifty day moving average price is $23.86 and its 200-day moving average price is $19.08.

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, 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, sell-side analysts expect that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

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.