Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 21.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 813,419 shares of the financial services provider's stock after acquiring an additional 143,522 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.40% of Remitly Global worth $16,919,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Remitly Global by 2.7% in the fourth 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 last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of Remitly Global by 34.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 4,774,069 shares of the financial services provider's stock worth $107,751,000 after acquiring an additional 1,220,806 shares during the last quarter. Geode Capital Management LLC raised its holdings in Remitly Global by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,528,947 shares of the financial services provider's stock valued at $79,666,000 after buying an additional 49,281 shares during the period. Norges Bank purchased a new position in Remitly Global in the fourth quarter valued at approximately $66,169,000. Finally, Dimensional Fund Advisors LP raised its holdings in Remitly Global by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,257,182 shares of the financial services provider's stock valued at $50,946,000 after buying an additional 128,366 shares during the period. 74.25% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Remitly Global
In other news, Director Joshua Hug sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $21.07, for a total transaction of $421,400.00. Following the completion of the sale, the director owned 3,713,811 shares of the company's stock, valued at approximately $78,249,997.77. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Luke Tavis sold 2,920 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $21.15, for a total transaction of $61,758.00. Following the sale, the chief accounting officer directly owned 1,208 shares of the company's stock, valued at $25,549.20. The trade was a 70.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,079,551 shares of company stock valued at $276,183,987. 8.10% of the stock is currently owned by corporate insiders.
Remitly Global Stock Up 1.1%
Shares of RELY traded up $0.19 during mid-day trading on Monday, reaching $17.17. 448,562 shares of the stock traded hands, compared to its average volume of 2,698,777. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -572.77 and a beta of 0.13. The stock has a fifty day simple moving average of $19.62 and a 200 day simple moving average of $21.26. Remitly Global, Inc. has a 12-month low of $12.43 and a 12-month high of $27.32.
Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. The company had revenue of $361.62 million for the quarter, compared to analyst estimates of $347.81 million. Remitly Global had a negative net margin of 0.34% and a negative return on equity of 0.70%. The business's quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.11) earnings per share. On average, equities research analysts expect that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on RELY shares. KeyCorp raised their price target on shares of Remitly Global from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Barclays raised their price target on shares of Remitly Global from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, May 12th. JMP Securities restated a "market outperform" rating and issued a $32.00 price target on shares of Remitly Global in a report on Thursday, April 10th. The Goldman Sachs Group raised their price target on shares of Remitly Global from $23.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Monness Crespi & Hardt raised their price target on shares of Remitly Global from $30.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $28.88.
Read Our Latest Stock Analysis on RELY
Remitly Global Company Profile
(
Free Report)
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.
See Also

Before you consider Remitly Global, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Remitly Global wasn't on the list.
While Remitly Global currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.