Remitly Global, Inc. (NASDAQ:RELY) Holdings Increased by Barclays PLC

Barclays PLC lifted its holdings in Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 3.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,459,305 shares of the financial services provider's stock after acquiring an additional 50,903 shares during the period. Barclays PLC owned approximately 0.74% of Remitly Global worth $32,935,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Remitly Global by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 14,651,053 shares of the financial services provider's stock worth $330,674,000 after acquiring an additional 380,159 shares during the period. Baillie Gifford & Co. lifted its position in Remitly Global by 1.6% during the fourth quarter. Baillie Gifford & Co. now owns 9,385,334 shares of the financial services provider's stock worth $211,827,000 after purchasing an additional 150,602 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Remitly Global by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,528,947 shares of the financial services provider's stock worth $79,666,000 after acquiring an additional 49,281 shares during the period. Norges Bank acquired a new stake in shares of Remitly Global in the 4th quarter valued at $66,169,000. Finally, Principal Financial Group Inc. lifted 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 valued at $27,058,000 after purchasing an additional 2,001,198 shares during the last quarter. 74.25% of the stock is owned by institutional investors.

Remitly Global Stock Performance

NASDAQ RELY traded up $0.06 on Thursday, reaching $19.69. 241,061 shares of the stock traded hands, compared to its average volume of 1,970,615. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -103.47 and a beta of 0.15. The company has a fifty day moving average price of $21.28 and a 200-day moving average price of $20.81. 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 earnings results 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. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. The company had revenue of $351.90 million during the quarter, compared to analysts' expectations of $343.67 million. As a group, research analysts anticipate that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Joshua Hug sold 10,000 shares of the company's stock in a transaction that occurred on 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 $73,339,585.53. This represents a 0.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ankur Sinha sold 5,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.01, for a total transaction of $95,050.00. Following the completion of the sale, the insider now directly owns 397,805 shares in the company, valued at approximately $7,562,273.05. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,166 shares of company stock valued at $1,133,685. 8.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Remitly Global from $21.00 to $25.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. The Goldman Sachs Group decreased their price target on Remitly Global from $33.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. William Blair reaffirmed an "outperform" rating on shares of Remitly Global in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on Remitly Global from $21.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Barclays upped their price target on Remitly Global from $28.00 to $29.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.