Remitly Global, Inc. (NASDAQ:RELY) Shares Bought by Swiss National Bank

Swiss National Bank grew its holdings in Remitly Global, Inc. (NASDAQ:RELY) by 2.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 287,800 shares of the financial services provider’s stock after buying an additional 6,000 shares during the quarter. Swiss National Bank’s holdings in Remitly Global were worth $6,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathstone Holdings LLC raised its holdings in Remitly Global by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 355,713 shares of the financial services provider’s stock valued at $4,763,000 after acquiring an additional 7,302 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Remitly Global by 7.7% in the third quarter. Caprock Group LLC now owns 37,869 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 2,710 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Remitly Global by 58.7% during the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,466 shares in the last quarter. Intech Investment Management LLC acquired a new position in Remitly Global during the third quarter worth $603,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Remitly Global by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,657,924 shares of the financial services provider’s stock valued at $48,980,000 after buying an additional 169,454 shares in the last quarter. 74.25% of the stock is owned by hedge funds and other institutional investors.

Remitly Global Stock Down 1.2 %

Shares of RELY opened at $20.33 on Friday. The company has a market cap of $4.08 billion, a P/E ratio of -107.00 and a beta of 0.07. Remitly Global, Inc. has a fifty-two week low of $11.60 and a fifty-two week high of $27.32. The firm’s 50 day moving average price is $23.25 and its 200 day moving average price is $19.80.

Remitly Global (NASDAQ:RELY) last announced 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. 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 the consensus estimate of $343.67 million. Research analysts forecast that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

Insider Transactions at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.21, for a total transaction of $367,637.43. Following the completion of the sale, the chief executive officer now owns 4,358,679 shares in the company, valued at $109,882,297.59. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ankur Sinha sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 397,805 shares in the company, valued at $7,562,273.05. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,749 shares of company stock valued at $1,081,736. Insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

RELY has been the topic of several analyst reports. BMO Capital Markets lifted their price target on Remitly Global from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. William Blair reiterated an “outperform” rating on shares of Remitly Global in a report on Thursday, February 20th. Wells Fargo & Company increased their price target on shares of Remitly Global from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Barclays lifted their price target on shares of Remitly Global from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their price objective on Remitly Global from $21.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.