Intellectus Partners LLC trimmed its position in Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 35.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,000 shares of the financial services provider's stock after selling 15,150 shares during the period. Intellectus Partners LLC's holdings in Remitly Global were worth $609,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. lifted its holdings in Remitly Global by 1.6% during the 4th quarter. Baillie Gifford & Co. now owns 9,385,334 shares of the financial services provider's stock worth $211,827,000 after buying an additional 150,602 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Remitly Global by 4.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,657,924 shares of the financial services provider's stock worth $48,980,000 after purchasing an additional 169,454 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Remitly Global by 13.8% during 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 last quarter. Geode Capital Management LLC boosted its holdings in Remitly Global by 3.2% in the third quarter. Geode Capital Management LLC now owns 3,479,666 shares of the financial services provider's stock worth $46,601,000 after purchasing an additional 107,468 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Remitly Global by 10,213.8% during the third quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider's stock valued at $27,058,000 after purchasing an additional 2,001,198 shares during the last quarter. 74.25% of the stock is currently owned by institutional investors and hedge funds.
Remitly Global Stock Performance
Shares of RELY stock traded down $0.73 during midday trading on Wednesday, reaching $19.75. 2,561,311 shares of the company were exchanged, compared to its average volume of 1,728,542. The company's 50 day moving average price is $23.72 and its two-hundred day moving average price is $19.49. The company has a market cap of $3.96 billion, a P/E ratio of -103.95 and a beta of 0.07. Remitly Global, Inc. has a 12 month low of $11.60 and a 12 month high of $27.32.
Remitly Global (NASDAQ:RELY - Get Free Report) last announced its earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. The firm had revenue of $351.90 million for the quarter, compared to analysts' expectations of $343.67 million. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. As a group, sell-side analysts predict that Remitly Global, Inc. will post -0.04 earnings per share for the current year.
Wall Street Analyst Weigh In
RELY has been the topic of a number of recent research reports. Barclays raised their price target on shares of Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. William Blair restated an "outperform" rating on shares of Remitly Global in a research note on Thursday, February 20th. Wells Fargo & Company increased their price target on Remitly Global from $21.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group upped their target price on shares of Remitly Global from $28.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and eight have issued 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 $28.13.
Read Our Latest Research Report on RELY
Insider Activity
In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,358,679 shares in the company, valued at $109,882,297.59. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.10% of the company's stock.
Remitly Global Profile
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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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