Remitly Global (NASDAQ:RELY) Director Joshua Hug Sells 5,500 Shares of Stock

Key Points

• Remitly director Joshua Hug sold 5,500 shares for $117,865 at an average price of $21.43 under a pre-arranged Rule 10b5-1 plan. He retained 2,642,389 shares after the sale.
• Remitly reported third-quarter revenue of about $509.8 million, topping estimates of $507.3 million and rising 21.5% year over year; management also raised its outlook.
• Analysts’ consensus rating is Moderate Buy, with a $27.78 average price target; one analyst rates the stock Strong Buy, nine Buy, and two Hold.

Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) Director Joshua Hug sold 5,500 shares of the business's stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $21.43, for a total value of $117,865.00. Following the sale, the director owned 2,642,389 shares in the company, valued at $56,626,396.27. This represents a 0.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Joshua Hug also recently made the following trade(s):

• On Tuesday, October 6th, Joshua Hug sold 5,500 shares of Remitly Global stock. The shares were sold at an average price of $23.18, for a total value of $127,490.00.
• On Tuesday, September 8th, Joshua Hug sold 5,500 shares of Remitly Global stock. The shares were sold at an average price of $25.03, for a total value of $137,665.00.
• On Tuesday, August 11th, Joshua Hug sold 5,500 shares of Remitly Global stock. The shares were sold at an average price of $23.65, for a total value of $130,075.00.

Remitly Global Stock Performance

Shares of NASDAQ:RELY traded up $0.77 during midday trading on Friday, hitting $22.32. 3,866,619 shares of the stock were exchanged, compared to its average volume of 2,490,430. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 17.97 and a beta of 0.46. The business's 50-day moving average price is $23.59 and its 200 day moving average price is $20.71. Remitly Global, Inc. has a 12 month low of $12.08 and a 12 month high of $28.00.

Remitly Global (NASDAQ:RELY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.15. The business had revenue of $509.84 million during the quarter, compared to analyst estimates of $507.31 million. Remitly Global had a net margin of 16.85% and a return on equity of 33.33%. The firm's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS. As a group, sell-side analysts expect that Remitly Global, Inc. will post 0.85 EPS for the current year.

More Remitly Global News

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.

Institutional Investors Weigh In On Remitly Global

A number of hedge funds have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in Remitly Global during the second quarter worth $935,000. Squarepoint Ops LLC purchased a new stake in Remitly Global in the 2nd quarter valued at $6,282,000. Bank of America Corp DE purchased a new stake in Remitly Global in the 2nd quarter valued at $27,757,000. California State Teachers Retirement System lifted its stake in Remitly Global by 24.7% during the 1st quarter. California State Teachers Retirement System now owns 208,409 shares of the financial services provider's stock valued at $3,266,000 after acquiring an additional 41,221 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Remitly Global during the 3rd quarter valued at $31,985,000. 74.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RELY has been the subject of a number of analyst reports. Monness Crespi & Hardt restated a "buy" rating on shares of Remitly Global in a research report on Thursday, August 6th. Zacks Research cut Remitly Global from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Wolfe Research increased their target price on shares of Remitly Global from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, August 25th. Cantor Fitzgerald raised their price target 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 report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.78.

About Remitly Global

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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