Remitly Global, Inc. (NASDAQ:RELY) Shares Bought by Summit Creek Advisors LLC

Summit Creek Advisors LLC boosted its position in shares of Remitly Global, Inc. (NASDAQ:RELY) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 884,305 shares of the financial services provider’s stock after buying an additional 2,830 shares during the quarter. Remitly Global makes up 2.6% of Summit Creek Advisors LLC’s holdings, making the stock its 14th biggest position. Summit Creek Advisors LLC owned about 0.45% of Remitly Global worth $19,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Remitly Global during the fourth quarter valued at $28,000. R Squared Ltd acquired a new stake in Remitly Global during the fourth quarter valued at $89,000. Advisors Asset Management Inc. grew its position in Remitly Global by 58.7% during the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,466 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Remitly Global during the fourth quarter valued at $135,000. Finally, KBC Group NV grew its position in Remitly Global by 49.7% during the fourth quarter. KBC Group NV now owns 6,121 shares of the financial services provider’s stock valued at $138,000 after buying an additional 2,033 shares during the period. Institutional investors and hedge funds own 74.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on RELY shares. William Blair reiterated an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on shares of Remitly Global from $21.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Barclays lifted their target price on shares of Remitly Global from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Wells Fargo & Company lifted their target price on shares of Remitly Global from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Remitly Global from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

Insiders Place Their Bets

In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $25.21, for a total value of $367,637.43. Following the sale, the chief executive officer now directly owns 4,358,679 shares of the company’s stock, valued at approximately $109,882,297.59. The trade was 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 that occurred on Monday, March 17th. The shares were sold at an average price of $19.01, for a total transaction of $95,050.00. Following the completion of the sale, the insider now directly owns 397,805 shares in the company, valued at $7,562,273.05. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,749 shares of company stock valued at $1,081,736 over the last ninety days. Company insiders own 8.10% of the company’s stock.

Remitly Global Trading Down 1.2 %

RELY opened at $20.33 on Monday. The firm has a market capitalization of $4.08 billion, a PE ratio of -107.00 and a beta of 0.07. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $27.32. The firm’s 50-day moving average price is $23.25 and its 200 day moving average price is $19.85.

Remitly Global (NASDAQ:RELY) last issued its earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $351.90 million for the quarter, compared to the consensus estimate of $343.67 million. As a group, analysts predict that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

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.