Robeco Institutional Asset Management B.V. Buys 49,200 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Robeco Institutional Asset Management B.V. grew its holdings in Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 606,500 shares of the financial services provider's stock after acquiring an additional 49,200 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.31% of Remitly Global worth $13,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Remitly Global by 10,213.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider's stock worth $27,058,000 after purchasing an additional 2,001,198 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in shares of Remitly Global by 13.8% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider's stock worth $47,578,000 after acquiring an additional 431,987 shares during the period. Barclays PLC grew its holdings in shares of Remitly Global by 19.2% during the 3rd quarter. Barclays PLC now owns 1,408,402 shares of the financial services provider's stock worth $18,858,000 after purchasing an additional 227,231 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Remitly Global during the second quarter valued at approximately $2,560,000. Finally, Portolan Capital Management LLC raised its stake in shares of Remitly Global by 96.3% in the third quarter. Portolan Capital Management LLC now owns 353,054 shares of the financial services provider's stock valued at $4,727,000 after purchasing an additional 173,162 shares in the last quarter. Institutional investors and hedge funds own 74.25% of the company's stock.

Analyst Upgrades and Downgrades

RELY has been the topic of a number of recent research reports. KeyCorp lifted their price target on shares of Remitly Global from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Barclays upped their target price on shares of Remitly Global from $23.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday. JMP Securities raised their price target on shares of Remitly Global from $22.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company upped their price objective on Remitly Global from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.75.

Insiders Place Their Bets

In other news, insider Pankaj Sharma sold 4,000 shares of Remitly Global stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $20.00, for a total value of $80,000.00. Following the completion of the sale, the insider now directly owns 151,576 shares of the company's stock, valued at approximately $3,031,520. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.14, for a total value of $337,450.62. Following the completion of the sale, the chief executive officer now owns 4,387,845 shares of the company's stock, valued at approximately $101,534,733.30. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,476 shares of company stock valued at $1,202,171 in the last 90 days. 8.10% of the stock is currently owned by insiders.

Remitly Global Stock Performance

Shares of NASDAQ RELY traded up $0.37 during mid-day trading on Tuesday, hitting $24.21. 3,225,569 shares of the stock were exchanged, compared to its average volume of 1,528,612. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $24.27. The stock's fifty day simple moving average is $22.39 and its two-hundred day simple moving average is $17.63. The company has a market cap of $4.80 billion, a P/E ratio of -69.17 and a beta of 0.07.

About Remitly Global

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.