12,109 Shares in Remitly Global, Inc. (NASDAQ:RELY) Acquired by DHK Financial Advisors Inc.

DHK Financial Advisors Inc. acquired a new stake in Remitly Global, Inc. (NASDAQ:RELY) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,109 shares of the financial services provider’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Millennium Management LLC grew its holdings in Remitly Global by 108.0% during the 2nd quarter. Millennium Management LLC now owns 3,987,899 shares of the financial services provider’s stock worth $48,333,000 after acquiring an additional 2,071,026 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Remitly Global by 4.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,657,924 shares of the financial services provider’s stock valued at $48,980,000 after purchasing an additional 169,454 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of Remitly Global by 13.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider’s stock valued at $47,578,000 after purchasing an additional 431,987 shares in the last quarter. Geode Capital Management LLC raised its position 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 purchasing an additional 107,468 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Remitly Global by 25.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,132,232 shares of the financial services provider’s stock worth $25,843,000 after buying an additional 435,827 shares in the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

Insider Activity

In other Remitly Global news, insider Joshua Hug sold 22,198 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $20.62, for a total transaction of $457,722.76. Following the completion of the sale, the insider now owns 3,873,811 shares of the company’s stock, valued at $79,877,982.82. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pankaj Sharma sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company’s stock, valued at approximately $3,031,520. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,476 shares of company stock valued at $1,202,171. 8.10% of the stock is owned by insiders.

Remitly Global Stock Up 1.5 %

Shares of RELY opened at $23.50 on Wednesday. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $23.86. The firm’s 50 day moving average price is $22.08 and its two-hundred day moving average price is $17.26.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share (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 during the quarter, compared to the consensus estimate of $320.71 million. During the same period last year, the company earned ($0.20) earnings per share. Remitly Global’s quarterly revenue was up 39.3% on a year-over-year basis. On average, equities analysts forecast that Remitly Global, Inc. will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About Remitly Global

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.