Blair William & Co. IL Has $5.53 Million Stake in Remitly Global, Inc. (NASDAQ:RELY)

Blair William & Co. IL grew its stake in Remitly Global, Inc. (NASDAQ:RELY) by 24.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,131 shares of the financial services provider’s stock after purchasing an additional 48,447 shares during the period. Blair William & Co. IL owned about 0.12% of Remitly Global worth $5,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RELY. Vanguard Group Inc. lifted its stake in Remitly Global by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 14,651,053 shares of the financial services provider’s stock valued at $330,674,000 after purchasing an additional 380,159 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Remitly Global by 1.6% during the fourth quarter. Baillie Gifford & Co. now owns 9,385,334 shares of the financial services provider’s stock worth $211,827,000 after buying an additional 150,602 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of Remitly Global by 13.8% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider’s stock valued at $47,578,000 after acquiring an additional 431,987 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Remitly Global by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,479,666 shares of the financial services provider’s stock valued at $46,601,000 after acquiring an additional 107,468 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Remitly Global by 10,213.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider’s stock worth $27,058,000 after acquiring an additional 2,001,198 shares during the last quarter. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on RELY. JPMorgan Chase & Co. increased their target price on Remitly Global from $21.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. William Blair reiterated an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 20th. BMO Capital Markets upped their price target on shares of Remitly Global from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted their price target on shares of Remitly Global from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Finally, Barclays boosted their price objective on shares of Remitly Global from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Remitly Global presently has an average rating of “Moderate Buy” and a consensus price target of $28.13.

Remitly Global Stock Down 1.2 %

RELY stock opened at $20.93 on Monday. The company’s fifty day simple moving average is $23.07 and its 200 day simple moving average is $20.11. Remitly Global, Inc. has a 12-month low of $11.60 and a 12-month high of $27.32. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -110.16 and a beta of 0.07.

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 analysts’ consensus estimates of ($0.07) by $0.04. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. The company had revenue of $351.90 million for the quarter, compared to the consensus estimate of $343.67 million. Research analysts expect that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 transaction of $367,637.43. Following the transaction, the chief executive officer now owns 4,358,679 shares of the company’s stock, valued at $109,882,297.59. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ankur Sinha sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.01, for a total value of $95,050.00. Following the completion of the sale, the insider now owns 397,805 shares of the company’s stock, valued at approximately $7,562,273.05. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,749 shares of company stock worth $1,081,736. Corporate insiders own 8.10% of the company’s stock.

Remitly Global Company 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.