Remitly Global, Inc. (NASDAQ:RELY) CEO Sells $281,597.73 in Stock

Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) CEO Matthew B. Oppenheimer sold 14,583 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.31, for a total value of $281,597.73. Following the completion of the transaction, the chief executive officer now directly owns 4,329,513 shares in the company, valued at approximately $83,602,896.03. This trade represents a 0.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Remitly Global Trading Down 1.2 %

Shares of RELY traded down $0.25 during midday trading on Friday, hitting $20.33. 1,810,015 shares of the company's stock traded hands, compared to its average volume of 1,772,900. Remitly Global, Inc. has a 1 year low of $11.60 and a 1 year high of $27.32. The firm's fifty day moving average is $23.25 and its 200-day moving average is $19.80. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -107.00 and a beta of 0.07.

Remitly Global (NASDAQ:RELY - Get Free Report) last issued 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 firm had revenue of $351.90 million during the quarter, compared to analyst estimates of $343.67 million. On average, equities research analysts anticipate that Remitly Global, Inc. will post -0.04 EPS for the current year.

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Analyst Ratings Changes

Several research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Remitly Global from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Barclays increased their price objective on Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their price objective on Remitly Global from $21.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. William Blair restated an "outperform" rating on shares of Remitly Global in a report on Thursday, February 20th. Finally, BMO Capital Markets upped their target price on Remitly Global from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. One 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, Remitly Global has an average rating of "Moderate Buy" and an average price target of $28.13.

Institutional Investors Weigh In On Remitly Global

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Remitly Global during the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new position in shares of Remitly Global during the fourth quarter worth $89,000. Advisors Asset Management Inc. raised its holdings in shares of 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 purchasing an additional 1,466 shares during the last quarter. Assetmark Inc. purchased a new stake in Remitly Global in the third quarter valued at $76,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Remitly Global during the 4th quarter worth about $135,000. Institutional investors and hedge funds own 74.25% of the company's stock.

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.