Key Points
- Pankaj Sharma sold 2,000 shares of Remitly on Nov. 12 at $12.47 for $24,940, reducing his stake to 202,377 shares (a 0.98% decrease) as disclosed in an SEC Form 4.
- Remitly beat Q3 estimates with $0.04 EPS vs. $0.02 expected and revenue of $419.49M (up 24.7% year-over-year), though net margin remained slim at 1.36%.
- The stock traded at $12.47 (near its 12-month low of $12.08) and sits well below its 50- and 200-day moving averages ($16.17 and $18.42), while analysts' consensus target is $25.88 (average rating: Moderate Buy).
Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) insider Pankaj Sharma sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $12.47, for a total transaction of $24,940.00. Following the sale, the insider directly owned 202,377 shares of the company's stock, valued at approximately $2,523,641.19. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Remitly Global Price Performance
RELY traded down $0.02 during trading on Friday, reaching $12.47. The company had a trading volume of 2,192,582 shares, compared to its average volume of 3,196,949. The business's fifty day moving average price is $16.17 and its 200 day moving average price is $18.42. Remitly Global, Inc. has a 12 month low of $12.08 and a 12 month high of $27.32. The company has a market cap of $2.61 billion, a P/E ratio of 138.72 and a beta of 0.10.
Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $419.49 million for the quarter, compared to analysts' expectations of $413.73 million. Remitly Global had a net margin of 1.36% and a return on equity of 3.12%. The firm's revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. Remitly Global has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.
Institutional Trading of Remitly Global
Several hedge funds have recently made changes to their positions in RELY. Elequin Capital LP bought a new position in shares of Remitly Global during the 1st quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Remitly Global during the first quarter valued at about $41,000. Essex Investment Management Co. LLC bought a new position in Remitly Global during the third quarter worth about $33,000. First Horizon Corp bought a new position in Remitly Global during the third quarter worth about $36,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Remitly Global by 29.9% in the third quarter. Exchange Traded Concepts LLC now owns 3,098 shares of the financial services provider's stock worth $50,000 after purchasing an additional 714 shares in the last quarter. 74.25% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on RELY shares. William Blair restated an "outperform" rating on shares of Remitly Global in a research note on Friday, October 10th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Remitly Global in a report on Wednesday, October 8th. JMP Securities lowered their price target on Remitly Global from $32.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, September 15th. Zacks Research raised Remitly Global from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 4th. Finally, Monness Crespi & Hardt reduced their target price on Remitly Global from $32.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.88.
Read Our Latest Analysis on Remitly Global
About Remitly Global
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
