Remitly Global, Inc. (NASDAQ:RELY) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can raised its position in Remitly Global, Inc. (NASDAQ:RELY) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,271 shares of the financial services provider’s stock after buying an additional 1,435 shares during the quarter. Bank of Montreal Can’s holdings in Remitly Global were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Remitly Global during the 4th quarter worth $28,000. R Squared Ltd acquired a new position in Remitly Global in the 4th quarter valued at about $89,000. FMR LLC raised its stake 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 last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Remitly Global during the 4th quarter worth approximately $135,000. Finally, KBC Group NV grew its stake in shares of Remitly Global by 49.7% in the 4th quarter. KBC Group NV now owns 6,121 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 2,033 shares during the last quarter. 74.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RELY has been the topic of several recent research reports. The Goldman Sachs Group dropped their price objective 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. William Blair restated an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 20th. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Remitly Global in a report on Thursday, April 10th. Barclays increased their target price on shares of Remitly Global from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Wells Fargo & Company lifted their price target on Remitly Global from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. 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, Remitly Global currently has an average rating of “Moderate Buy” and a consensus price target of $28.13.

Remitly Global Price Performance

NASDAQ RELY opened at $19.93 on Friday. The company has a market cap of $4.00 billion, a P/E ratio of -104.89 and a beta of 0.15. Remitly Global, Inc. has a 12 month low of $11.60 and a 12 month high of $27.32. The company has a 50-day moving average of $21.68 and a 200-day moving average of $20.73.

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

Insider Activity

In other Remitly Global news, insider Ankur Sinha sold 5,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.01, for a total transaction of $95,050.00. Following the transaction, the insider now owns 397,805 shares in the company, valued at $7,562,273.05. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $25.21, for a total value of $367,637.43. Following the completion of the sale, the chief executive officer now owns 4,358,679 shares of the company’s stock, valued at approximately $109,882,297.59. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,749 shares of company stock valued at $1,081,736 in 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.