Remitly Global, Inc. (NASDAQ:RELY) CEO Matthew B. Oppenheimer Sells 14,583 Shares

Remitly Global, Inc. (NASDAQ:RELY) CEO Matthew B. Oppenheimer sold 14,583 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $25.21, for a total transaction of $367,637.43. Following the transaction, the chief executive officer now owns 4,358,679 shares in the company, valued at approximately $109,882,297.59. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Remitly Global Stock Performance

Shares of NASDAQ:RELY opened at $25.40 on Friday. Remitly Global, Inc. has a 12-month low of $11.60 and a 12-month high of $25.74. The business has a 50 day moving average of $22.57 and a 200-day moving average of $17.73.

Institutional Trading of Remitly Global

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in 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 buying an additional 2,001,198 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Remitly Global by 13.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider’s stock valued at $47,578,000 after acquiring an additional 431,987 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in Remitly Global during the fourth quarter worth about $6,324,000. Barclays PLC raised its stake in Remitly Global by 19.2% in 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. Finally, Portolan Capital Management LLC boosted its holdings in Remitly Global by 96.3% in the 3rd 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 during the period. 74.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RELY has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Remitly Global from $23.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. KeyCorp boosted their price target on Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. 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. Finally, JMP Securities lifted their target price on Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.75.

Remitly Global Company Profile

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.