Matthew B. Oppenheimer Sells 14,583 Shares of Remitly Global, Inc. (NASDAQ:RELY) Stock

Remitly Global, Inc. (NASDAQ:RELY) CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction dated 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 directly owns 4,358,679 shares in the company, valued at $109,882,297.59. This represents 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 at this hyperlink.

Remitly Global Stock Down 0.5 %

RELY traded down $0.12 during mid-day trading on Friday, reaching $25.40. 1,286,948 shares of the company traded hands, compared to its average volume of 1,549,421. The company’s fifty day moving average price is $22.57 and its 200-day moving average price is $17.73. The stock has a market capitalization of $5.03 billion, a P/E ratio of -72.57 and a beta of 0.07. Remitly Global, Inc. has a 52-week low of $11.60 and a 52-week high of $25.74.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RELY shares. Wells Fargo & Company raised their price objective on Remitly Global from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. KeyCorp raised their price target on Remitly Global from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. 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, Barclays upped their target price on shares of Remitly Global from $23.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday. One research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Hedge Funds Weigh In On Remitly Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in Remitly Global by 65.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,318 shares of the financial services provider’s stock worth $301,000 after acquiring an additional 5,290 shares during the period. Lisanti Capital Growth LLC purchased a new stake in shares of Remitly Global in the 4th quarter worth $6,324,000. Arizona State Retirement System raised its holdings in Remitly Global by 2.1% in the 4th quarter. Arizona State Retirement System now owns 42,453 shares of the financial services provider’s stock worth $958,000 after purchasing an additional 886 shares during the period. Proficio Capital Partners LLC purchased a new position in Remitly Global during the fourth quarter valued at $315,000. Finally, M&T Bank Corp grew its holdings in Remitly Global by 62.2% during the fourth quarter. M&T Bank Corp now owns 83,938 shares of the financial services provider’s stock valued at $1,895,000 after purchasing an additional 32,176 shares during the period. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Remitly Global Company 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.