Remitly Global (NASDAQ:RELY) Insider Pankaj Sharma Sells 2,000 Shares

Remitly Global, Inc. (NASDAQ:RELY) insider Pankaj Sharma sold 2,000 shares of Remitly Global stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $12.47, for a total transaction of $24,940.00. Following the sale, the insider owned 202,377 shares in the company, valued at $2,523,641.19. This represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Remitly Global Trading Down 0.2%

RELY stock traded down $0.02 during trading on Friday, reaching $12.47. The stock had a trading volume of 2,192,582 shares, compared to its average volume of 3,196,949. Remitly Global, Inc. has a 1-year low of $12.08 and a 1-year high of $27.32. The firm has a fifty day moving average price of $16.17 and a 200 day moving average price of $18.42. The company has a market capitalization of $2.61 billion, a P/E ratio of 138.72 and a beta of 0.10.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $419.49 million during the quarter, compared to the consensus estimate of $413.73 million. Remitly Global had a net margin of 1.36% and a return on equity of 3.12%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. Remitly Global has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RELY shares. Wall Street Zen upgraded Remitly Global from a “hold” rating to a “buy” rating in a research report on Sunday, September 7th. The Goldman Sachs Group reduced their price target on Remitly Global from $26.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, October 13th. William Blair reiterated an “outperform” rating on shares of Remitly Global in a research note on Friday, October 10th. JPMorgan Chase & Co. dropped their price target on shares of Remitly Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Remitly Global in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.88.

Institutional Investors Weigh In On Remitly Global

Large investors have recently made changes to their positions in the company. Alliancebernstein L.P. boosted its position in Remitly Global by 366.8% during the first quarter. Alliancebernstein L.P. now owns 5,137,834 shares of the financial services provider’s stock worth $106,867,000 after purchasing an additional 4,037,151 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in 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 during the period. Marshall Wace LLP raised its stake in Remitly Global by 74.4% during the third quarter. Marshall Wace LLP now owns 4,599,144 shares of the financial services provider’s stock worth $74,966,000 after acquiring an additional 1,962,076 shares in the last quarter. Norges Bank bought a new stake in shares of Remitly Global in the 2nd quarter worth about $36,619,000. Finally, UBS Group AG boosted its position in Remitly Global by 189.7% in the third quarter. UBS Group AG now owns 2,418,069 shares of the financial services provider’s stock valued at $39,415,000 after buying an additional 1,583,432 shares in the last quarter. Institutional investors own 74.25% of the company’s stock.

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.