Dimensional Fund Advisors LP Purchases 128,366 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Dimensional Fund Advisors LP raised its position in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,257,182 shares of the financial services provider's stock after acquiring an additional 128,366 shares during the quarter. Dimensional Fund Advisors LP owned about 1.14% of Remitly Global worth $50,946,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. First Trust Advisors LP boosted its position in shares of Remitly Global by 33.1% during the 4th quarter. First Trust Advisors LP now owns 46,255 shares of the financial services provider's stock valued at $1,044,000 after purchasing an additional 11,512 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Remitly Global by 132.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 28,138 shares of the financial services provider's stock valued at $633,000 after buying an additional 16,052 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Remitly Global during the 4th quarter worth approximately $2,826,000. Marshall Wace LLP grew its position in shares of Remitly Global by 146.4% during the 4th quarter. Marshall Wace LLP now owns 1,570,935 shares of the financial services provider's stock worth $35,456,000 after buying an additional 933,253 shares during the period. Finally, Bridgewater Associates LP bought a new stake in shares of Remitly Global in the 4th quarter valued at $948,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RELY has been the subject of a number of research reports. Barclays raised their price target on shares of Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. The Goldman Sachs Group decreased their target price on Remitly Global from $33.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company raised their price objective on Remitly Global from $21.00 to $25.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. JMP Securities restated a "market outperform" rating and set a $32.00 price objective on shares of Remitly Global in a report on Thursday, April 10th. Finally, William Blair reiterated an "outperform" rating on shares of Remitly Global in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.50.

Insider Activity at Remitly Global

In related news, insider Joshua Hug sold 10,000 shares of the business'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 completion of the transaction, the insider now owns 3,813,811 shares of the company's stock, valued at approximately $73,339,585.53. The trade was a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ankur Sinha sold 5,000 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 397,805 shares of the company's stock, valued at approximately $7,562,273.05. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,166 shares of company stock worth $1,133,685. Company insiders own 8.10% of the company's stock.

Remitly Global Stock Up 3.3 %

RELY stock opened at $20.94 on Friday. The firm has a market cap of $4.27 billion, a PE ratio of -110.21 and a beta of 0.15. The business has a 50 day moving average of $20.55 and a 200-day moving average of $21.16. 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 announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.04. The firm had revenue of $351.90 million during the quarter, compared to the consensus estimate of $343.67 million. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. On average, research analysts expect that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

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.

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