Algert Global LLC Purchases 29,603 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Algert Global LLC grew its holdings in Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 53.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,002 shares of the financial services provider's stock after acquiring an additional 29,603 shares during the quarter. Algert Global LLC's holdings in Remitly Global were worth $1,918,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RELY. Barclays PLC raised its holdings in Remitly Global by 19.2% during the 3rd quarter. Barclays PLC now owns 1,408,402 shares of the financial services provider's stock worth $18,858,000 after buying an additional 227,231 shares during the period. Principal Financial Group Inc. raised its position in Remitly Global by 10,213.8% during the third quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider's stock worth $27,058,000 after acquiring an additional 2,001,198 shares in the last quarter. Green Alpha Advisors LLC raised its holdings in shares of Remitly Global by 74.4% in the 4th quarter. Green Alpha Advisors LLC now owns 18,730 shares of the financial services provider's stock valued at $423,000 after purchasing an additional 7,991 shares during the period. Claro Advisors LLC lifted its position in shares of Remitly Global by 5.2% in the fourth quarter. Claro Advisors LLC now owns 12,700 shares of the financial services provider's stock valued at $287,000 after buying an additional 629 shares during the last quarter. Finally, Dakota Wealth Management bought a new position in Remitly Global during the fourth quarter worth $269,000. 74.25% of the stock is currently owned by institutional investors.

Insider Transactions at Remitly Global

In other Remitly Global news, insider Joshua Hug sold 37,718 shares of Remitly Global stock in a transaction on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $793,963.90. Following the transaction, the insider now directly owns 3,776,093 shares of the company's stock, valued at $79,486,757.65. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ankur Sinha sold 5,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.01, for a total transaction of $95,050.00. Following the transaction, the insider now owns 397,805 shares in the company, valued at approximately $7,562,273.05. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,301 shares of company stock valued at $1,560,012 over the last three months. Corporate insiders own 7.50% of the company's stock.

Remitly Global Stock Performance

Shares of Remitly Global stock traded down $0.30 on Friday, reaching $23.86. 3,531,725 shares of the company's stock were exchanged, compared to its average volume of 1,998,312. The company has a market capitalization of $4.86 billion, a P/E ratio of -125.58 and a beta of 0.16. Remitly Global, Inc. has a 52 week low of $11.60 and a 52 week high of $27.32. The firm's 50-day moving average is $20.42 and its two-hundred day moving average is $21.52.

Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. The firm had revenue of $361.62 million during the quarter, compared to analysts' expectations of $347.81 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The company's revenue for the quarter was up 34.3% compared to the same quarter last year. On average, analysts expect that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays boosted their price objective on Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. KeyCorp upped their price target on shares of Remitly Global from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Thursday. Monness Crespi & Hardt lifted their target price on Remitly Global from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday. BMO Capital Markets upped their price target on shares of Remitly Global from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company lifted their target price on shares of Remitly Global from $21.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Remitly Global has an average rating of "Moderate Buy" and a consensus target price of $29.13.

Remitly Global 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.