Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) insider Joshua Hug sold 10,000 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $19.23, for a total transaction of $192,300.00. Following the sale, the insider now directly owns 3,813,811 shares of the company's stock, valued at approximately $73,339,585.53. This represents a 0.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Joshua Hug also recently made the following trade(s):
- On Thursday, April 17th, Joshua Hug sold 10,000 shares of Remitly Global stock. The shares were sold at an average price of $19.71, for a total transaction of $197,100.00.
Remitly Global Price Performance
RELY opened at $19.10 on Tuesday. The stock has a market cap of $3.83 billion, a P/E ratio of -100.53 and a beta of 0.15. The stock's 50 day moving average price is $21.56 and its 200 day moving average price is $20.83. 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 posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.04. The company had revenue of $351.90 million during the quarter, compared to analyst estimates of $343.67 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. Equities analysts anticipate that Remitly Global, Inc. will post -0.04 EPS for the current year.
Institutional Investors Weigh In On Remitly Global
Several hedge funds have recently modified their holdings of RELY. Clarius Group LLC acquired a new stake in Remitly Global in the 1st quarter valued at $239,000. Exchange Traded Concepts LLC acquired a new position in shares of Remitly Global during the 1st quarter worth about $46,000. SG Americas Securities LLC acquired a new stake in Remitly Global in the 1st quarter valued at $1,008,000. Simplicity Wealth LLC bought a new position in Remitly Global in the first quarter valued at approximately $580,000. Finally, DHK Financial Advisors Inc. lifted its stake in Remitly Global by 19.1% in the first quarter. DHK Financial Advisors Inc. now owns 14,425 shares of the financial services provider's stock valued at $300,000 after acquiring an additional 2,316 shares during the last quarter. 74.25% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Remitly Global from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. The Goldman Sachs Group decreased their price objective on Remitly Global from $33.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. 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 report on Thursday, February 20th. William Blair reaffirmed an "outperform" rating on shares of Remitly Global in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $28.13.
Read Our Latest Analysis on Remitly Global
Remitly Global Company Profile
(
Get 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.
Featured Stories

This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.