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Robeco Institutional Asset Management B.V. Sells 51,700 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Remitly Global logo with Business Services background

Robeco Institutional Asset Management B.V. lowered its holdings in Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 557,300 shares of the financial services provider's stock after selling 51,700 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.29% of Remitly Global worth $7,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Duality Advisers LP purchased a new position in Remitly Global during the first quarter valued at $446,000. Empowered Funds LLC grew its stake in Remitly Global by 10.5% in the first quarter. Empowered Funds LLC now owns 51,523 shares of the financial services provider's stock worth $1,069,000 after purchasing an additional 4,913 shares in the last quarter. Swiss National Bank raised its holdings in shares of Remitly Global by 2.4% in the first quarter. Swiss National Bank now owns 274,300 shares of the financial services provider's stock valued at $5,689,000 after acquiring an additional 6,500 shares in the last quarter. ProShare Advisors LLC raised its stake in Remitly Global by 10.9% in the first quarter. ProShare Advisors LLC now owns 24,452 shares of the financial services provider's stock worth $507,000 after buying an additional 2,407 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in Remitly Global in the first quarter valued at about $218,000. Institutional investors own 74.25% of the company's stock.

Insider Buying and Selling

In related news, CEO Matthew B. Oppenheimer sold 40,119 shares of the firm's stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $14.22, for a total transaction of $570,492.18. Following the completion of the sale, the chief executive officer now directly owns 4,542,613 shares of the company's stock, valued at approximately $64,595,956.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Matthew B. Oppenheimer sold 40,119 shares of the firm's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $14.22, for a total value of $570,492.18. Following the sale, the chief executive officer now directly owns 4,542,613 shares in the company, valued at $64,595,956.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pankaj Sharma sold 4,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $20.00, for a total transaction of $80,000.00. Following the completion of the sale, the insider now owns 151,576 shares in the company, valued at approximately $3,031,520. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

Remitly Global Stock Performance

Remitly Global stock traded down $0.04 during trading on Friday, hitting $19.43. The company's stock had a trading volume of 963,761 shares, compared to its average volume of 1,712,750. The stock's fifty day moving average is $14.50 and its 200 day moving average is $14.03. Remitly Global, Inc. has a 1-year low of $11.60 and a 1-year high of $23.01.

Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.07. The company had revenue of $336.53 million for the quarter, compared to the consensus estimate of $320.71 million. Remitly Global had a negative net margin of 5.63% and a negative return on equity of 11.58%. Remitly Global's revenue was up 39.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.20) earnings per share. Equities research analysts anticipate that Remitly Global, Inc. will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Remitly Global from $16.00 to $20.00 and gave the company an "overweight" rating in a report on Monday. KeyCorp increased their price objective on shares of Remitly Global from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Remitly Global from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. Wells Fargo & Company upgraded shares of Remitly Global from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $13.00 to $18.00 in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group decreased their price objective on Remitly Global from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.38.

View Our Latest Research Report on RELY

Remitly Global Profile

(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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Institutional Ownership by Quarter for Remitly Global (NASDAQ:RELY)

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