Edgestream Partners L.P. Decreases Stock Holdings in Remitly Global, Inc. $RELY

Edgestream Partners L.P. lowered its position in Remitly Global, Inc. (NASDAQ:RELY) by 65.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,737 shares of the financial services provider’s stock after selling 21,953 shares during the period. Edgestream Partners L.P.’s holdings in Remitly Global were worth $184,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in Remitly Global by 48.2% during the fourth quarter. Baillie Gifford & Co. now owns 11,658,558 shares of the financial services provider’s stock valued at $160,888,000 after acquiring an additional 3,790,210 shares during the last quarter. Marshall Wace LLP grew its holdings in Remitly Global by 30.4% in the fourth quarter. Marshall Wace LLP now owns 5,995,712 shares of the financial services provider’s stock worth $82,741,000 after purchasing an additional 1,396,568 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Remitly Global by 86.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,554,016 shares of the financial services provider’s stock worth $90,530,000 after purchasing an additional 2,567,446 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Remitly Global by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,149,971 shares of the financial services provider’s stock valued at $57,278,000 after purchasing an additional 67,700 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Remitly Global by 4.7% during the 4th quarter. State Street Corp now owns 3,785,052 shares of the financial services provider’s stock valued at $52,234,000 after purchasing an additional 168,942 shares during the last quarter. Institutional investors own 74.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Cantor Fitzgerald boosted their target price on Remitly Global from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Citigroup restated an “outperform” rating on shares of Remitly Global in a research note on Thursday. KeyCorp boosted their price objective on shares of Remitly Global from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings upgraded Remitly Global from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Finally, Zacks Research downgraded Remitly Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.44.

Trending Headlines about Remitly Global

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Quarterly results exceeded expectations. Remitly reported $495.2 million in Q2 revenue, up 20.2% year over year and above the $486.3 million consensus estimate. Reported EPS of $0.93 also significantly surpassed the $0.12 consensus, while revenue and earnings growth accelerated from the prior-year period. Remitly Reports Record Second Quarter Results and Raises Full Year 2026 Outlook
• Positive Sentiment: Operating momentum remained strong. Quarterly send volume increased 27% year over year, active customers surpassed 10 million, and adjusted EBITDA rose 79% to $114.7 million. These metrics support the investment case for continued scale and improving profitability. Remitly Global Earnings Call Highlights Growth And Risks
• Positive Sentiment: Management raised its 2026 outlook. Full-year revenue guidance was set at approximately $2.0 billion, while third-quarter revenue guidance of $505 million to $507 million is above the $503.8 million analyst consensus. The guidance suggests demand is holding up despite the company’s larger scale. Raised Full Year 2026 Outlook
• Positive Sentiment: Citizens JMP raised its price target from $30 to $32 and maintained a “market outperform” rating, implying further potential upside from the recent trading level. Citizens JMP Price Target Increase
• Neutral Sentiment: Investors should separate recurring performance from one-time items. Q2 net income included a $140.6 million discrete tax benefit, which materially boosted reported profitability and makes the headline EPS figure less representative of ongoing operations. Management’s earnings call also highlighted risks alongside the growth outlook. Q2 2026 Earnings Call Transcript

Insider Buying and Selling at Remitly Global

In related news, Director Joshua Hug sold 34,383 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $24.89, for a total transaction of $855,792.87. Following the completion of the transaction, the director owned 3,482,320 shares in the company, valued at $86,674,944.80. This represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikas D. Mehta sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.07, for a total transaction of $526,750.00. Following the completion of the transaction, the chief financial officer directly owned 988,004 shares in the company, valued at $20,817,244.28. This represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 170,388 shares of company stock valued at $3,725,510. Insiders own 6.53% of the company’s stock.

Remitly Global Price Performance

Remitly Global stock opened at $25.93 on Friday. The stock has a market capitalization of $5.46 billion, a PE ratio of 18.65 and a beta of 0.34. Remitly Global, Inc. has a 12 month low of $12.08 and a 12 month high of $27.15. The business has a 50 day simple moving average of $22.15 and a 200-day simple moving average of $19.05.

Remitly Global (NASDAQ:RELY) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.81. Remitly Global had a return on equity of 35.95% and a net margin of 16.85%.The firm had revenue of $495.16 million for the quarter, compared to analyst estimates of $486.25 million. During the same quarter last year, the firm posted $0.03 EPS. The business’s revenue was up 20.2% on a year-over-year basis. On average, equities research analysts anticipate that Remitly Global, Inc. will post 0.62 EPS for the current fiscal year.

About Remitly Global

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.