Key Points
- Ryno Blignaut sold 4,500 shares of Remitly on Feb. 17 at an average price of $12.89 for $58,005, reducing his position by 12.14% to 32,576 shares (valued ~ $419,905).
- Broader market context: RELY trades near $13 with a market cap of ~$2.73B, carries a consensus "Moderate Buy" and $23.70 target, and about 74.25% of the stock is institutionally owned as several funds increased Q4 positions.
Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) Director Ryno Blignaut sold 4,500 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $12.89, for a total value of $58,005.00. Following the sale, the director owned 32,576 shares in the company, valued at $419,904.64. The trade was a 12.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Ryno Blignaut also recently made the following trade(s):
- On Wednesday, November 26th, Ryno Blignaut sold 4,500 shares of Remitly Global stock. The stock was sold at an average price of $13.25, for a total value of $59,625.00.
Remitly Global Trading Up 2.5%
Shares of NASDAQ RELY opened at $13.08 on Wednesday. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 145.33 and a beta of 0.11. Remitly Global, Inc. has a 1-year low of $12.08 and a 1-year high of $27.32. The stock's 50-day moving average is $13.75 and its 200 day moving average is $15.35.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on RELY shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Remitly Global in a research report on Monday, December 29th. Monness Crespi & Hardt decreased their price objective on Remitly Global from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, November 6th. Zacks Research upgraded Remitly Global from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 20th. Bank of America started coverage on Remitly Global in a research note on Tuesday, February 10th. They issued a "buy" rating and a $18.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Remitly Global from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.70.
View Our Latest Stock Analysis on Remitly Global
Institutional Trading of Remitly Global
A number of hedge funds have recently made changes to their positions in the stock. Steinberg Asset Management LLC bought a new position in Remitly Global in the 4th quarter worth about $1,540,000. AQR Capital Management LLC increased its holdings in Remitly Global by 248.3% in the 4th quarter. AQR Capital Management LLC now owns 813,854 shares of the financial services provider's stock worth $11,231,000 after buying an additional 580,171 shares in the last quarter. Laird Norton Wetherby Trust Company LLC raised its position in Remitly Global by 14.6% in the 4th quarter. Laird Norton Wetherby Trust Company LLC now owns 31,968 shares of the financial services provider's stock worth $441,000 after buying an additional 4,067 shares during the last quarter. Trexquant Investment LP raised its position in Remitly Global by 4.8% in the 4th quarter. Trexquant Investment LP now owns 1,591,454 shares of the financial services provider's stock worth $21,962,000 after buying an additional 73,436 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Remitly Global by 7.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,400,000 shares of the financial services provider's stock valued at $33,120,000 after acquiring an additional 165,000 shares during the period. 74.25% of the stock is owned by institutional investors.
About Remitly Global
(
Get Free Report)
Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.
Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.
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