Caprock Group LLC Has $781,000 Holdings in Remitly Global, Inc. (NASDAQ:RELY)

Caprock Group LLC trimmed its holdings in shares of Remitly Global, Inc. (NASDAQ:RELY) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,588 shares of the financial services provider’s stock after selling 3,281 shares during the quarter. Caprock Group LLC’s holdings in Remitly Global were worth $781,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RELY. Advisors Asset Management Inc. increased its holdings in shares of Remitly Global by 58.7% during 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 last quarter. Assetmark Inc. bought a new stake in shares of Remitly Global during the 3rd quarter worth $76,000. R Squared Ltd acquired a new position in Remitly Global in the 4th quarter valued at $89,000. FMR LLC raised its holdings in Remitly Global by 39.8% in the 3rd quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 1,970 shares during the period. Finally, KBC Group NV lifted its position in Remitly Global by 49.7% during the 4th quarter. KBC Group NV now owns 6,121 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 2,033 shares during the last quarter. 74.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RELY shares. Barclays raised their price target on Remitly Global from $23.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday. KeyCorp raised their target price on Remitly Global from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Wells Fargo & Company upped their price target on Remitly Global from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, JMP Securities raised their price objective on shares of Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Remitly Global Price Performance

Shares of RELY stock opened at $23.84 on Tuesday. Remitly Global, Inc. has a one year low of $11.60 and a one year high of $24.09. The stock has a fifty day moving average price of $22.32 and a 200 day moving average price of $17.55. The stock has a market cap of $4.72 billion, a P/E ratio of -68.11 and a beta of 0.07.

Insider Activity

In related news, insider Pankaj Sharma sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $20.00, for a total value of $80,000.00. Following the transaction, the insider now directly owns 151,576 shares in the company, valued at $3,031,520. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $20.86, for a total transaction of $304,201.38. Following the completion of the transaction, the chief executive officer now directly owns 4,417,011 shares in the company, valued at approximately $92,138,849.46. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,476 shares of company stock worth $1,202,171. 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.