Remitly Global, Inc. (NASDAQ:RELY) CEO Matthew B. Oppenheimer Sells 14,583 Shares of Stock

Remitly Global, Inc. (NASDAQ:RELY) CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction 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 completion of the transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Remitly Global Trading Down 0.5 %

NASDAQ:RELY opened at $25.40 on Friday. The stock has a 50-day simple moving average of $22.57 and a 200 day simple moving average of $17.73. Remitly Global, Inc. has a 52-week low of $11.60 and a 52-week high of $25.74.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price objective on Remitly Global from $23.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. 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 lifted their price objective on Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, KeyCorp upped their target price on shares of Remitly Global from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One investment 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 stock presently has an average rating of “Moderate Buy” and an average price target of $23.75.

Hedge Funds Weigh In On Remitly Global

Several hedge funds have recently made changes to their positions in RELY. Global Retirement Partners LLC bought a new stake in shares of Remitly Global in the fourth quarter worth $28,000. Advisors Asset Management Inc. increased its stake in Remitly Global by 58.7% in the 3rd 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 last quarter. Assetmark Inc. bought a new stake in Remitly Global during the 3rd quarter worth about $76,000. R Squared Ltd acquired a new position in shares of Remitly Global during the 4th quarter worth about $89,000. Finally, FMR LLC grew its holdings in shares of Remitly Global by 39.8% in 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 in the last quarter. 74.25% of the stock is owned by institutional investors.

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.