Remitly Global, Inc. $RELY Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in shares of Remitly Global, Inc. (NASDAQ:RELY) by 76.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,963 shares of the financial services provider’s stock after acquiring an additional 52,072 shares during the period. Quantinno Capital Management LP owned 0.06% of Remitly Global worth $1,880,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Torren Management LLC acquired a new stake in shares of Remitly Global in the fourth quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new position in Remitly Global during the first quarter worth approximately $26,000. Cullen Frost Bankers Inc. acquired a new position in Remitly Global during the fourth quarter worth $28,000. HighMark Wealth Management LLC acquired a new position in Remitly Global during the fourth quarter worth $35,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Remitly Global by 140.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,642 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,545 shares in the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

Insider Buying and Selling

In related news, Director Nigel W. Morris sold 8,938 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $25.43, for a total value of $227,293.34. Following the sale, the director owned 1,882,056 shares in the company, valued at approximately $47,860,684.08. The trade was a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pankaj Sharma sold 16,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $20.01, for a total value of $320,160.00. Following the completion of the sale, the insider owned 767,810 shares in the company, valued at $15,363,878.10. This represents a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 405,125 shares of company stock valued at $9,464,949 over the last quarter. 6.53% of the stock is owned by corporate insiders.

Key Headlines Impacting Remitly Global

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

• Positive Sentiment: Cantor Fitzgerald raised its price target for Remitly Global from $28 to $30 and maintained an “overweight” rating, implying substantial potential upside. The upgrade reflects confidence in the company’s growth prospects and remittance-business initiatives. StreetInsider analyst price-target article
• Positive Sentiment: A recent management discussion highlighted key initiatives, remittance-business performance and potential growth accelerators. While the transcript did not provide a new financial forecast in the supplied report, the focus on expansion and operating execution may reinforce the constructive investor outlook. Remitly Global initiatives and growth transcript
• Neutral Sentiment: Reported short interest was listed at zero shares, with a zero-day short-interest ratio. Because the figures show no measurable short position and the reported percentage change is not meaningful, this data offers little directional information for RELY.
• Negative Sentiment: Director Phillip John Riese sold 100,000 shares on August 11 at an average price of $23.73, reducing his direct ownership by 27.69%. The sale follows his disposal of 160,182 shares on August 7, representing a combined transaction value of approximately $6.37 million and potentially signaling profit-taking or reduced insider exposure. SEC insider transaction filing
• Negative Sentiment: Director Nigel W. Morris sold 8,938 shares at an average price of $25.43. The sale reduced his direct stake by only 0.47%, making it less significant than Riese’s transactions, but it adds to the recent pattern of insider selling. SEC insider transaction filing

Remitly Global Price Performance

Shares of RELY opened at $23.61 on Wednesday. Remitly Global, Inc. has a 1-year low of $12.08 and a 1-year high of $27.15. The stock has a market cap of $5.00 billion, a PE ratio of 16.99 and a beta of 0.34. The firm has a 50-day simple moving average of $22.35 and a two-hundred day simple moving average of $19.25.

Remitly Global (NASDAQ:RELY) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.12 by $0.81. The firm had revenue of $495.16 million for the quarter, compared to analyst estimates of $486.25 million. Remitly Global had a net margin of 16.85% and a return on equity of 33.33%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS. As a group, sell-side analysts expect that Remitly Global, Inc. will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RELY shares. KeyCorp raised their price target on shares of Remitly Global from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Zacks Research lowered Remitly Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Citigroup reiterated an “outperform” rating on shares of Remitly Global in a research report on Thursday, August 6th. Weiss Ratings raised Remitly Global from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. Finally, Monness Crespi & Hardt restated a “buy” rating on shares of Remitly Global in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Remitly Global has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

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.