Phillip John Riese Sells 40,000 Shares of Remitly Global (NASDAQ:RELY) Stock

Remitly Global, Inc. (NASDAQ:RELY) Director Phillip John Riese sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $20.04, for a total transaction of $801,600.00. Following the completion of the transaction, the director directly owned 122,496 shares in the company, valued at $2,454,819.84. This represents a 24.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Remitly Global Trading Up 0.7%

RELY opened at $20.94 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 3.30. The company’s 50 day simple moving average is $16.49 and its two-hundred day simple moving average is $14.96. Remitly Global, Inc. has a 1-year low of $12.08 and a 1-year high of $24.70. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 67.55, a price-to-earnings-growth ratio of 0.74 and a beta of 0.09.

Remitly Global (NASDAQ:RELY) last released its earnings results on Wednesday, February 18th. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.17. Remitly Global had a net margin of 4.15% and a return on equity of 8.87%. The business had revenue of $442.18 million for the quarter, compared to analyst estimates of $427.27 million. During the same period last year, the company posted ($0.03) EPS. The business’s revenue was up 25.7% on a year-over-year basis. Analysts expect that Remitly Global, Inc. will post 0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Oppenheimer set a $20.00 price target on shares of Remitly Global in a report on Thursday, February 19th. Citizens Jmp raised their price target on shares of Remitly Global from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Thursday, February 19th. KeyCorp raised their price target on shares of Remitly Global from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday. Bank of America assumed coverage on shares of Remitly Global in a report on Tuesday, February 10th. They set a “buy” rating and a $18.00 price target for the company. Finally, Citigroup restated an “outperform” rating on shares of Remitly Global in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Remitly Global currently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Institutional Investors Weigh In On Remitly Global

Several institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in shares of Remitly Global by 48.2% during the 4th quarter. Baillie Gifford & Co. now owns 11,658,558 shares of the financial services provider’s stock worth $160,888,000 after purchasing an additional 3,790,210 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Remitly Global by 30.4% during the 4th quarter. Marshall Wace LLP now owns 5,995,712 shares of the financial services provider’s stock worth $82,741,000 after purchasing an additional 1,396,568 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Remitly Global by 86.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,554,016 shares of the financial services provider’s stock worth $90,530,000 after purchasing an additional 2,567,446 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Remitly Global by 46.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 5,531,247 shares of the financial services provider’s stock worth $90,159,000 after purchasing an additional 1,748,576 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Remitly Global by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,149,971 shares of the financial services provider’s stock worth $57,278,000 after purchasing an additional 67,700 shares during the last quarter. 74.25% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Remitly Global

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target to $24 and moved to an “overweight” rating, signaling analyst confidence and adding upside interest for investors. Cantor Fitzgerald PT raise
• Positive Sentiment: Recent quarterly results (Feb.) showed stronger-than-expected revenue and a return to positive EPS, supporting the stock’s rerating and investor optimism heading into the May 6 report. Recent quarter summary
• Neutral Sentiment: Remitly announced it will release Q1 2026 results after market close on May 6 and host a 2:00 PM PT / 5:00 PM ET webcast — a near-term catalyst that can drive volatility depending on beats/misses and guidance. Earnings date release
• Neutral Sentiment: Insider sales were disclosed: Director Phillip John Riese sold ~40,000 shares and insider Pankaj Sharma sold 10,000 shares (transactions reported as executed under pre-arranged Rule 10b5?1 plans). These raise watchfulness but reduce concerns about opportunistic selling. Riese SEC filing Sharma sale report
• Negative Sentiment: Zacks Research downgraded Remitly from “strong-buy” to “hold,” which could temper momentum from buy-side upgrades and weigh on sentiment if other brokers follow. Zacks downgrade

About Remitly Global

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.