Remitly Global, Inc. (NASDAQ:RELY) Stock Holdings Decreased by Brighton Jones LLC

Brighton Jones LLC trimmed its position in shares of Remitly Global, Inc. (NASDAQ:RELY) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 388,956 shares of the financial services provider’s stock after selling 39,324 shares during the period. Brighton Jones LLC’s holdings in Remitly Global were worth $8,779,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Remitly Global by 25.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,132,232 shares of the financial services provider’s stock worth $25,843,000 after purchasing an additional 435,827 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Remitly Global by 1,209.8% during the 2nd quarter. Hsbc Holdings PLC now owns 197,498 shares of the financial services provider’s stock valued at $2,386,000 after acquiring an additional 182,420 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Remitly Global by 39.7% in the second quarter. XTX Topco Ltd now owns 13,952 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 3,968 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of Remitly Global during the second quarter worth $571,000. Finally, Marshall Wace LLP acquired a new stake in Remitly Global during the second quarter valued at $2,560,000. 74.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Remitly Global from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. KeyCorp increased their price objective on Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JMP Securities lifted their target price on shares of Remitly Global from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, Barclays increased their price target on shares of Remitly Global from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Remitly Global currently has an average rating of “Moderate Buy” and a consensus price target of $23.13.

Remitly Global Trading Up 1.9 %

Shares of RELY opened at $23.55 on Friday. Remitly Global, Inc. has a one year low of $11.60 and a one year high of $23.67. The company’s fifty day moving average price is $21.80 and its 200 day moving average price is $16.93.

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

Insider Transactions at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $20.86, for a total value of $304,201.38. Following the completion of the transaction, the chief executive officer now directly owns 4,417,011 shares of the company’s stock, valued at $92,138,849.46. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pankaj Sharma sold 4,000 shares of Remitly Global stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $20.00, for a total transaction of $80,000.00. Following the sale, the insider now owns 151,576 shares in the company, valued at approximately $3,031,520. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,893 shares of company stock worth $864,720 over the last three months. 8.10% of the stock is currently owned by insiders.

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.