15,375 Shares in Remitly Global, Inc. (NASDAQ:RELY) Purchased by LPL Financial LLC

LPL Financial LLC acquired a new position in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,375 shares of the financial services provider's stock, valued at approximately $347,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RELY. Barclays PLC increased its position 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 purchasing an additional 227,231 shares during the period. Principal Financial Group Inc. raised its stake in Remitly Global by 10,213.8% during the third quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider's stock worth $27,058,000 after buying an additional 2,001,198 shares during the last quarter. Green Alpha Advisors LLC lifted its holdings in Remitly Global by 74.4% in the fourth quarter. Green Alpha Advisors LLC now owns 18,730 shares of the financial services provider's stock valued at $423,000 after buying an additional 7,991 shares during the period. Claro Advisors LLC boosted its position in Remitly Global by 5.2% during the fourth quarter. Claro Advisors LLC now owns 12,700 shares of the financial services provider's stock valued at $287,000 after acquiring an additional 629 shares during the last quarter. Finally, Dakota Wealth Management acquired a new stake in Remitly Global during the 4th quarter worth about $269,000. Institutional investors and hedge funds own 74.25% of the company's stock.

Remitly Global Stock Performance

Shares of Remitly Global stock traded down $0.10 on Thursday, hitting $20.12. The company had a trading volume of 154,390 shares, compared to its average volume of 1,996,180. Remitly Global, Inc. has a 1 year low of $11.60 and a 1 year high of $27.32. The stock has a 50 day moving average of $20.78 and a 200-day moving average of $21.07. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -105.58 and a beta of 0.15.

Remitly Global (NASDAQ:RELY - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.04. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. The business had revenue of $351.90 million during the quarter, compared to analyst estimates of $343.67 million. Equities analysts anticipate that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on RELY. JPMorgan Chase & Co. upped their target price on Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Wells Fargo & Company increased their price target on Remitly Global from $21.00 to $25.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. The Goldman Sachs Group dropped their target price on shares of Remitly Global from $33.00 to $26.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. KeyCorp decreased their price target on shares of Remitly Global from $33.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Barclays increased their price objective on shares of Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $28.50.

Insiders Place Their Bets

In other news, insider Joshua Hug sold 10,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $19.23, for a total value of $192,300.00. Following the completion of the transaction, the insider now directly owns 3,813,811 shares of the company's stock, valued at $73,339,585.53. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ankur Sinha sold 5,000 shares of the stock in a transaction dated Monday, March 17th. The stock was 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 directly owns 397,805 shares in the company, valued at approximately $7,562,273.05. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,166 shares of company stock valued at $1,133,685. Corporate insiders own 8.10% of the company's stock.

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.