Remitly Global, Inc. (NASDAQ:RELY) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 168.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,600 shares of the financial services provider's stock after purchasing an additional 78,256 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Remitly Global worth $2,812,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. XTX Topco Ltd boosted its stake in shares of Remitly Global by 4.0% in the third quarter. XTX Topco Ltd now owns 14,515 shares of the financial services provider's stock valued at $194,000 after buying an additional 563 shares in the last quarter. Claro Advisors LLC lifted its holdings in Remitly Global by 5.2% in 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 period. Sei Investments Co. boosted its position in shares of Remitly Global by 4.8% during the 4th quarter. Sei Investments Co. now owns 13,865 shares of the financial services provider's stock worth $313,000 after purchasing an additional 636 shares in the last quarter. Values First Advisors Inc. grew its stake in shares of Remitly Global by 4.4% during the 4th quarter. Values First Advisors Inc. now owns 15,441 shares of the financial services provider's stock worth $349,000 after purchasing an additional 653 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of Remitly Global by 2.1% in the 4th quarter. Arizona State Retirement System now owns 42,453 shares of the financial services provider's stock valued at $958,000 after purchasing an additional 886 shares in the last quarter. 74.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ankur Sinha sold 5,000 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $19.01, for a total value of $95,050.00. Following the completion of the transaction, the insider now directly owns 397,805 shares in the company, valued at approximately $7,562,273.05. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.31, for a total value of $281,597.73. Following the transaction, the chief executive officer now owns 4,329,513 shares in the company, valued at $83,602,896.03. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,166 shares of company stock valued at $1,133,685 over the last 90 days. Insiders own 8.10% of the company's stock.

Remitly Global Price Performance

Remitly Global stock traded up $0.66 during mid-day trading on Wednesday, hitting $20.01. 458,326 shares of the company were exchanged, compared to its average volume of 1,966,637. Remitly Global, Inc. has a 12-month low of $11.60 and a 12-month high of $27.32. The company has a market capitalization of $4.01 billion, a P/E ratio of -105.32 and a beta of 0.15. The business's 50 day simple moving average is $21.43 and its two-hundred day simple moving average is $20.82.

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

Analyst Upgrades and Downgrades

RELY has been the topic of several recent analyst reports. The Goldman Sachs Group lowered 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. Barclays upped their price target on Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Wells Fargo & Company lifted their price objective on Remitly Global from $21.00 to $25.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. JMP Securities reiterated a "market outperform" rating and set a $32.00 target price on shares of Remitly Global in a research report on Thursday, April 10th. Finally, William Blair restated an "outperform" rating on shares of Remitly Global in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.13.

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.