Barclays PLC Acquires 227,231 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Barclays PLC boosted its holdings in shares of Remitly Global, Inc. (NASDAQ:RELY) by 19.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,408,402 shares of the financial services provider’s stock after acquiring an additional 227,231 shares during the period. Barclays PLC’s holdings in Remitly Global were worth $18,858,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in shares of Remitly Global in the 2nd quarter worth about $43,000. Values First Advisors Inc. bought a new stake in Remitly Global during the 2nd quarter worth approximately $138,000. Bank of New York Mellon Corp raised its stake in shares of Remitly Global by 76.3% in the second quarter. Bank of New York Mellon Corp now owns 915,319 shares of the financial services provider’s stock worth $11,094,000 after purchasing an additional 396,264 shares during the last quarter. LB Partners LLC bought a new position in shares of Remitly Global in the second quarter valued at approximately $5,736,000. Finally, Principal Financial Group Inc. boosted its position in shares of Remitly Global by 7.1% during the second quarter. Principal Financial Group Inc. now owns 19,593 shares of the financial services provider’s stock valued at $237,000 after buying an additional 1,296 shares during the last quarter. 74.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Matthew B. Oppenheimer sold 40,119 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $14.22, for a total value of $570,492.18. Following the completion of the transaction, the chief executive officer now directly owns 4,542,613 shares of the company’s stock, valued at approximately $64,595,956.86. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pankaj Sharma sold 4,000 shares of Remitly Global stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $20.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now owns 151,576 shares of the company’s stock, valued at $3,031,520. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,012 shares of company stock valued at $1,435,212. 8.10% of the stock is owned by insiders.

Remitly Global Stock Down 2.9 %

RELY opened at $20.74 on Friday. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $22.08. The company’s 50-day moving average price is $18.02 and its two-hundred day moving average price is $14.95. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -59.26 and a beta of 0.10.

Remitly Global (NASDAQ:RELY) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. The business had revenue of $336.53 million during the quarter, compared to analyst estimates of $320.71 million. Remitly Global had a negative return on equity of 11.58% and a negative net margin of 5.63%. Remitly Global’s revenue was up 39.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.20) earnings per share. As a group, sell-side analysts anticipate that Remitly Global, Inc. will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RELY has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Remitly Global from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upgraded shares of Remitly Global from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $13.00 to $18.00 in a report on Thursday, October 31st. Barclays boosted their price target on shares of Remitly Global from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. BMO Capital Markets increased their price objective on shares of Remitly Global from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Finally, JMP Securities boosted their target price on Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

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.