Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) insider Joshua Hug sold 10,000 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $19.23, for a total value of $192,300.00. Following the completion of the transaction, the insider now owns 3,813,811 shares of the company's stock, valued at $73,339,585.53. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Joshua Hug also recently made the following trade(s):
- On Thursday, April 17th, Joshua Hug sold 10,000 shares of Remitly Global stock. The stock was sold at an average price of $19.71, for a total transaction of $197,100.00.
Remitly Global Stock Down 4.2 %
Shares of RELY traded down $0.83 during trading hours on Monday, reaching $19.10. 1,741,785 shares of the company traded hands, compared to its average volume of 1,967,030. The stock has a market capitalization of $3.83 billion, a PE ratio of -100.53 and a beta of 0.15. The stock has a fifty day simple moving average of $21.68 and a 200 day simple moving average of $20.79. Remitly Global, Inc. has a fifty-two week low of $11.60 and a fifty-two week high of $27.32.
Remitly Global (NASDAQ:RELY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.04. The business had revenue of $351.90 million during the quarter, compared to the consensus estimate of $343.67 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. Research analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $32.00 price objective on shares of Remitly Global in a research note on Thursday, April 10th. 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 note on Thursday, February 20th. Barclays raised their price objective on Remitly Global from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. William Blair reiterated an "outperform" rating on shares of Remitly Global in a research report on Thursday, February 20th. Finally, BMO Capital Markets raised their price target on Remitly Global from $27.00 to $32.00 and gave the company an "outperform" rating in a research 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 stock. According to MarketBeat, Remitly Global has an average rating of "Moderate Buy" and an average price target of $28.13.
Read Our Latest Analysis on RELY
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in Remitly Global in the 4th quarter worth about $28,000. Exchange Traded Concepts LLC acquired a new position in Remitly Global during the first quarter worth approximately $46,000. R Squared Ltd acquired a new stake in shares of Remitly Global during the 4th quarter worth $89,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Remitly Global in the 4th quarter worth $135,000. Finally, KBC Group NV boosted its holdings in Remitly Global by 49.7% in the fourth quarter. KBC Group NV now owns 6,121 shares of the financial services provider's stock valued at $138,000 after acquiring an additional 2,033 shares during the last quarter. Hedge funds and other institutional investors own 74.25% of the company's stock.
About Remitly Global
(
Get 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.
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