Remitly Global, Inc. (NASDAQ:RELY) Shares Bought by XTX Topco Ltd

XTX Topco Ltd grew its position in Remitly Global, Inc. (NASDAQ:RELY) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,515 shares of the financial services provider’s stock after purchasing an additional 563 shares during the period. XTX Topco Ltd’s holdings in Remitly Global were worth $194,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RELY. Blue Trust Inc. acquired a new position in Remitly Global during the second quarter valued at approximately $43,000. Advisors Asset Management Inc. raised its stake in shares of Remitly Global by 58.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,466 shares during the period. Assetmark Inc. acquired a new position in shares of Remitly Global during the 3rd quarter valued at $76,000. FMR LLC boosted its position in Remitly Global by 39.8% during the 3rd quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 1,970 shares during the period. Finally, nVerses Capital LLC boosted its position in Remitly Global by 2,900.0% during the 2nd quarter. nVerses Capital LLC now owns 9,000 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 8,700 shares during the period. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RELY. Barclays raised their price objective on Remitly Global from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Wells Fargo & Company raised Remitly Global from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $13.00 to $18.00 in a research report on Thursday, October 31st. BMO Capital Markets upped their price target on Remitly Global from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. JMP Securities increased their price objective on shares of Remitly Global from $22.00 to $25.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Finally, KeyCorp boosted their target price on shares of Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Remitly Global has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Remitly Global Trading Up 1.1 %

Shares of NASDAQ:RELY opened at $21.61 on Friday. The firm has a market cap of $4.28 billion, a PE ratio of -61.74 and a beta of 0.10. The company has a fifty day simple moving average of $18.72 and a 200 day simple moving average of $15.17. Remitly Global, Inc. has a 12-month low of $11.60 and a 12-month high of $22.67.

Remitly Global (NASDAQ:RELY) last released its earnings results on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. Remitly Global had a negative net margin of 5.63% and a negative return on equity of 11.58%. The company had revenue of $336.53 million during the quarter, compared to the consensus estimate of $320.71 million. During the same quarter in the previous year, the firm earned ($0.20) EPS. The company’s revenue was up 39.3% on a year-over-year basis. As a group, equities research analysts forecast that Remitly Global, Inc. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Remitly Global

In other news, CEO Matthew B. Oppenheimer sold 40,119 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $14.22, for a total transaction of $570,492.18. Following the completion of the transaction, the chief executive officer now directly owns 4,542,613 shares of the company’s stock, valued at approximately $64,595,956.86. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pankaj Sharma sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $20.00, for a total value of $80,000.00. Following the completion of the sale, the insider now directly owns 151,576 shares in the company, valued at approximately $3,031,520. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,012 shares of company stock worth $1,435,212 over the last quarter. 8.10% of the stock is owned by corporate insiders.

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.