Remitly Global, Inc. (NASDAQ:RELY) Shares Purchased by Vident Advisory LLC

Vident Advisory LLC raised its holdings in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,220 shares of the financial services provider's stock after acquiring an additional 31,145 shares during the period. Vident Advisory LLC's holdings in Remitly Global were worth $1,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RELY. Barclays PLC lifted its stake in Remitly Global by 19.2% during the 3rd quarter. Barclays PLC now owns 1,408,402 shares of the financial services provider's stock valued at $18,858,000 after acquiring an additional 227,231 shares during the period. Dakota Wealth Management acquired a new stake in Remitly Global during the 4th quarter valued at approximately $269,000. Blue Trust Inc. lifted its stake in Remitly Global by 661.9% during the 4th quarter. Blue Trust Inc. now owns 17,135 shares of the financial services provider's stock valued at $387,000 after acquiring an additional 14,886 shares during the period. KBC Group NV lifted its stake in Remitly Global by 49.7% during the 4th quarter. KBC Group NV now owns 6,121 shares of the financial services provider's stock valued at $138,000 after acquiring an additional 2,033 shares during the period. Finally, DHK Financial Advisors Inc. acquired a new stake in Remitly Global during the 4th quarter valued at approximately $273,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Ankur Sinha sold 5,000 shares of the company'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 sale, the insider now owns 397,805 shares of the company's stock, valued at $7,562,273.05. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua Hug sold 10,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was 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. The trade was a 0.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,014,884 shares of company stock valued at $274,801,834. 8.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on RELY. BMO Capital Markets lifted their target price on shares of Remitly Global from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Barclays lifted their target price 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. Monness Crespi & Hardt lifted their target price 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. Finally, KeyCorp lifted their target price 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. One analyst has 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 has a consensus rating of "Moderate Buy" and a consensus target price of $28.88.

Remitly Global Price Performance

NASDAQ RELY traded down $0.33 on Friday, hitting $22.33. The company had a trading volume of 2,234,531 shares, compared to its average volume of 2,034,343. The company has a market capitalization of $4.55 billion, a PE ratio of -117.53 and a beta of 0.16. The company's fifty day moving average price is $20.95 and its 200-day moving average price is $21.90. 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 issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. The company had revenue of $361.62 million during the quarter, compared to analyst estimates of $347.81 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. The firm's revenue was up 34.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. On average, sell-side analysts anticipate that Remitly Global, Inc. will post -0.04 EPS for the current year.

About Remitly Global

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.