Aquatic Capital Management LLC Sells 203,181 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Aquatic Capital Management LLC lowered its holdings in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 89.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,819 shares of the financial services provider's stock after selling 203,181 shares during the period. Aquatic Capital Management LLC's holdings in Remitly Global were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Barclays PLC boosted its holdings in shares of Remitly Global by 19.2% during the 3rd quarter. Barclays PLC now owns 1,408,402 shares of the financial services provider's stock valued at $18,858,000 after purchasing an additional 227,231 shares during the last quarter. Principal Financial Group Inc. increased its stake in Remitly Global by 10,213.8% in 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. Green Alpha Advisors LLC boosted its position in Remitly Global by 74.4% during the fourth 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 in the last quarter. Claro Advisors LLC boosted its holdings in shares of Remitly Global by 5.2% in the 4th 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 in the last quarter. Finally, Dakota Wealth Management acquired a new position in shares of Remitly Global during the fourth quarter worth $269,000. 74.25% of the stock is currently owned by hedge funds and other institutional investors.

Remitly Global Stock Down 1.2 %

Remitly Global stock traded down $0.26 during mid-day trading on Wednesday, hitting $20.94. 558,632 shares of the company's stock traded hands, compared to its average volume of 2,164,337. The company has a market cap of $4.27 billion, a PE ratio of -110.23 and a beta of 0.16. The firm has a 50 day moving average price of $20.45 and a 200 day moving average price of $21.29. Remitly Global, Inc. has a one year low of $11.60 and a one year 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, topping analysts' consensus estimates of ($0.07) by $0.04. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. The company had revenue of $351.90 million for the quarter, compared to the consensus estimate of $343.67 million. On average, analysts expect that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.31, for a total value of $281,597.73. Following the completion of the sale, the chief executive officer now directly owns 4,329,513 shares of the company's stock, valued at $83,602,896.03. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Joshua Hug sold 10,000 shares of Remitly Global stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $19.71, for a total transaction of $197,100.00. Following the completion of the transaction, the insider now directly owns 3,823,811 shares in the company, valued at $75,367,314.81. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,583 shares of company stock worth $766,048. 8.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RELY has been the topic of several recent research reports. KeyCorp lowered their target price on shares of Remitly Global from $33.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price objective on Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. William Blair restated an "outperform" rating on shares of Remitly Global in a report on Thursday, February 20th. BMO Capital Markets lifted their price target on shares of Remitly Global from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company upped 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 research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Remitly Global currently has an average rating of "Moderate Buy" and an average price target of $28.50.

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.