Swiss National Bank Purchases 6,000 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Swiss National Bank increased its position in shares of Remitly Global, Inc. (NASDAQ:RELY) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,800 shares of the financial services provider’s stock after acquiring an additional 6,000 shares during the quarter. Swiss National Bank owned about 0.15% of Remitly Global worth $6,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Remitly Global during the fourth quarter worth $1,228,000. M&T Bank Corp purchased a new position in Remitly Global during the 3rd quarter worth $693,000. DHK Financial Advisors Inc. acquired a new position in Remitly Global during the 4th quarter valued at about $273,000. Robeco Institutional Asset Management B.V. raised its stake in Remitly Global by 8.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 606,500 shares of the financial services provider’s stock valued at $13,689,000 after buying an additional 49,200 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Remitly Global during the third quarter worth about $628,000. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RELY shares. William Blair reaffirmed an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of Remitly Global from $21.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Wells Fargo & Company upped their target price on Remitly Global from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. BMO Capital Markets raised their target price on Remitly Global from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Barclays boosted their price target on Remitly Global from $28.00 to $29.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.13.

Insider Buying and Selling

In other news, insider Ankur Sinha sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.01, for a total transaction of $95,050.00. Following the completion of the transaction, the insider now directly owns 397,805 shares of the company’s stock, valued at $7,562,273.05. This represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $367,637.43. Following the completion of the sale, the chief executive officer now directly owns 4,358,679 shares in the company, valued at $109,882,297.59. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,749 shares of company stock valued at $1,081,736. 8.10% of the stock is owned by company insiders.

Remitly Global Stock Down 1.2 %

Remitly Global stock opened at $20.33 on Friday. Remitly Global, Inc. has a 52 week low of $11.60 and a 52 week high of $27.32. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -107.00 and a beta of 0.07. The business’s 50-day moving average price is $23.25 and its 200 day moving average price is $19.80.

Remitly Global (NASDAQ:RELY) last posted its earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $351.90 million during the quarter, compared to analyst estimates of $343.67 million. Equities analysts expect that Remitly Global, Inc. will post -0.04 EPS for the current 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.