Remitly Global, Inc. $RELY Shares Newly Bought by Point Nemo Capital LLC

Key Points

• Point Nemo Capital opened a new position in Remitly Global, buying 54,949 shares worth approximately $1.17 million in the third quarter.
• Remitly’s latest quarter beat estimates, with revenue of $509.8 million, up 21.5% year over year, and earnings per share of $0.30 versus analysts’ $0.15 consensus. Management also raised its 2026 outlook.
• Analyst views are generally positive but mixed: the stock carries a “Moderate Buy” consensus rating and an average price target of $27.78, while some firms recently downgraded it to “Hold.”

Point Nemo Capital LLC purchased a new position in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 54,949 shares of the financial services provider's stock, valued at approximately $1,173,000.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Remitly Global in the 2nd quarter valued at approximately $410,752,000. Generation Investment Management LLP bought a new stake in Remitly Global during the second quarter worth approximately $109,637,000. Bank of America Corp DE boosted its position in Remitly Global by 471.7% during the first quarter. Bank of America Corp DE now owns 5,153,726 shares of the financial services provider's stock worth $80,759,000 after purchasing an additional 4,252,294 shares during the period. Lead Edge Capital Management LLC acquired a new position in Remitly Global during the second quarter valued at approximately $60,232,971. Finally, Assenagon Asset Management S.A. acquired a new position in Remitly Global during the third quarter valued at approximately $31,985,000. Institutional investors and hedge funds own 74.25% of the company's stock.

Insider Activity at Remitly Global

In related news, Director Phillip Riese sold 100,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $23.73, for a total value of $2,373,000.00. Following the sale, the director owned 261,094 shares of the company's stock, valued at $6,195,760.62. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pankaj Sharma sold 21,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $26.39, for a total transaction of $554,190.00. Following the completion of the transaction, the insider directly owned 716,022 shares of the company's stock, valued at $18,895,820.58. This trade represents a 2.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 315,118 shares of company stock worth $7,769,632 in the last ninety days. Company insiders own 6.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RELY. Citizens Jmp lifted their price target on shares of Remitly Global from $30.00 to $32.00 and gave the company a "market outperform" rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of Remitly Global from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research downgraded shares of Remitly Global from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Cantor Fitzgerald upped their price objective on shares of Remitly Global from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Monday, August 10th. Finally, Weiss Ratings lowered shares of Remitly Global from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $27.78.

Trending Headlines about Remitly Global

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Remitly reported record third-quarter growth and beat earnings and revenue estimates. Earnings were $0.48 per share versus the Zacks consensus of $0.33, while revenue of $509.8 million topped estimates of $507.3 million. Article: Remitly Global Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management raised its 2026 outlook after the strong quarter, citing AI-driven efficiency, higher transaction volumes and expansion of payment services. It expects fourth-quarter revenue of $531 million to $533 million and outlined high-teens growth for 2027, bolstering the growth outlook. Article: RELY Q3 Earnings Call Highlights Growth and Higher Outlook
• Neutral Sentiment: Remitly’s management will participate in an investor conference and post-earnings webinar on November 9. The events may provide more detail on results and guidance but are not, by themselves, a change to the company’s outlook. Article: Remitly Announces Upcoming Webinar and Investor Conference Participation
• Negative Sentiment: Put-option trading was unusually active, with 2,262 puts purchased—134% above typical volume. This may reflect bearish positioning or hedging, though options activity alone does not establish a clear view of the stock’s direction.

Remitly Global Price Performance

Shares of RELY stock opened at $22.32 on Friday. The stock has a market cap of $4.72 billion, a P/E ratio of 13.53 and a beta of 0.46. Remitly Global, Inc. has a one year low of $12.08 and a one year high of $28.00. The stock has a fifty day moving average price of $23.59 and a 200 day moving average price of $20.71.

Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.15. The firm had revenue of $509.84 million for the quarter, compared to the consensus estimate of $507.31 million. Remitly Global had a net margin of 19.14% and a return on equity of 35.56%. The business's revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. Equities research analysts anticipate that Remitly Global, Inc. will post 0.85 EPS for the current year.

Remitly Global Profile

Remitly Global, Inc is a digital financial services company that enables consumers to send money internationally. Its platform is designed primarily for immigrants and other customers who regularly transfer funds to family and friends in their countries of origin.

Through its mobile application and website, Remitly allows users to initiate cross-border remittances and select delivery options such as bank deposits, mobile-wallet transfers, cash pickup and, in some markets, home delivery.

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