41,986 Shares in Remitly Global, Inc. (NASDAQ:RELY) Purchased by Bridgewater Associates LP

Bridgewater Associates LP bought a new stake in shares of Remitly Global, Inc. (NASDAQ:RELY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,986 shares of the financial services provider’s stock, valued at approximately $948,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC boosted its holdings in Remitly Global by 39.8% during the 3rd quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 1,970 shares during the period. Stifel Financial Corp lifted its position in shares of Remitly Global by 168.4% during the third quarter. Stifel Financial Corp now owns 51,756 shares of the financial services provider’s stock worth $693,000 after purchasing an additional 32,473 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Remitly Global by 4.0% during the third quarter. XTX Topco Ltd now owns 14,515 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 563 shares during the period. Barclays PLC boosted its stake in shares of Remitly Global by 19.2% during the third quarter. Barclays PLC now owns 1,408,402 shares of the financial services provider’s stock valued at $18,858,000 after purchasing an additional 227,231 shares during the period. Finally, Geode Capital Management LLC increased its stake in Remitly Global by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,479,666 shares of the financial services provider’s stock worth $46,601,000 after buying an additional 107,468 shares during the period. Institutional investors own 74.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RELY shares. The Goldman Sachs Group dropped their target price on shares of Remitly Global from $33.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their price objective on Remitly Global from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Remitly Global from $21.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 20th. Finally, Barclays lifted their price objective on Remitly Global from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.13.

Remitly Global Price Performance

Shares of NASDAQ RELY opened at $19.93 on Friday. The business has a fifty day moving average price of $21.68 and a 200 day moving average price of $20.68. Remitly Global, Inc. has a 1-year low of $11.60 and a 1-year high of $27.32. The stock has a market capitalization of $4.00 billion, a P/E ratio of -104.89 and a beta of 0.15.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. The business had revenue of $351.90 million during the quarter, compared to analyst estimates of $343.67 million. As a group, equities research analysts anticipate that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $23.14, for a total value of $337,450.62. Following the transaction, the chief executive officer now directly owns 4,387,845 shares of the company’s stock, valued at $101,534,733.30. This represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ankur Sinha sold 5,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.01, for a total value of $95,050.00. Following the sale, the insider now owns 397,805 shares in the company, valued at approximately $7,562,273.05. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,749 shares of company stock worth $1,081,736 over the last three months. Corporate insiders own 8.10% of the company’s stock.

Remitly Global 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.