21,225 Shares in Remitly Global, Inc. (NASDAQ:RELY) Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. acquired a new stake in Remitly Global, Inc. (NASDAQ:RELY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 21,225 shares of the financial services provider's stock, valued at approximately $441,000.

A number of other institutional investors have also recently made changes to their positions in RELY. Price T Rowe Associates Inc. MD raised its stake in shares of Remitly Global by 1,032.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,400,682 shares of the financial services provider's stock valued at $31,614,000 after acquiring an additional 1,276,991 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in shares of Remitly Global by 34.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 4,774,069 shares of the financial services provider's stock valued at $107,751,000 after acquiring an additional 1,220,806 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Remitly Global by 146.4% during the fourth quarter. Marshall Wace LLP now owns 1,570,935 shares of the financial services provider's stock valued at $35,456,000 after acquiring an additional 933,253 shares in the last quarter. Marathon Partners Equity Management LLC purchased a new stake in Remitly Global in the fourth quarter worth $20,877,000. Finally, Lord Abbett & CO. LLC bought a new stake in Remitly Global in the fourth quarter valued at $19,312,000. Hedge funds and other institutional investors own 74.25% of the company's stock.

Insiders Place Their Bets

In related news, Director Joshua Hug sold 60,777 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $21.22, for a total transaction of $1,289,687.94. Following the completion of the sale, the director owned 3,733,811 shares of the company's stock, valued at $79,231,469.42. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip John Riese sold 5,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $20.34, for a total value of $101,700.00. Following the sale, the director owned 102,257 shares in the company, valued at approximately $2,079,907.38. This represents a 4.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,041,833 shares of company stock valued at $275,390,023. 7.50% of the stock is owned by company insiders.

Remitly Global Stock Up 0.3%

Shares of NASDAQ RELY traded up $0.05 during trading on Friday, reaching $19.00. The company had a trading volume of 7,517,332 shares, compared to its average volume of 4,828,311. Remitly Global, Inc. has a 12-month low of $12.43 and a 12-month high of $27.32. The business's 50-day moving average is $18.61 and its 200 day moving average is $20.86. The stock has a market cap of $3.92 billion, a PE ratio of 316.72 and a beta of 0.12.

Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.14). Remitly Global had a return on equity of 2.31% and a net margin of 0.96%. The firm had revenue of $411.85 million during the quarter, compared to the consensus estimate of $384.59 million. During the same quarter in the previous year, the firm earned ($0.06) EPS. The business's revenue for the quarter was up 34.4% on a year-over-year basis. On average, analysts anticipate that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

RELY has been the subject of several research reports. Barclays upped their price objective on shares of Remitly Global from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. The Goldman Sachs Group upped their target price on Remitly Global from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. KeyCorp restated an "overweight" rating and issued a $28.00 target price (up previously from $27.00) on shares of Remitly Global in a research note on Thursday. Monness Crespi & Hardt lifted their price target on Remitly Global from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded Remitly Global from a "buy" rating to a "hold" rating in a report on Saturday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.00.

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.