Ryno Blignaut Sells 4,500 Shares of Remitly Global (NASDAQ:RELY) Stock

Remitly Global, Inc. (NASDAQ:RELY) Director Ryno Blignaut sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $12.89, for a total transaction of $58,005.00. Following the transaction, the director directly owned 32,576 shares in the company, valued at $419,904.64. This represents a 12.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ryno Blignaut also recently made the following trade(s):

• On Wednesday, November 26th, Ryno Blignaut sold 4,500 shares of Remitly Global stock. The shares were sold at an average price of $13.25, for a total transaction of $59,625.00.

Remitly Global Stock Performance

Shares of Remitly Global stock traded up $0.32 on Tuesday, reaching $13.08. 4,199,498 shares of the stock were exchanged, compared to its average volume of 3,062,397. The firm has a market cap of $2.73 billion, a PE ratio of 145.33 and a beta of 0.11. The firm’s 50 day moving average is $13.78 and its 200-day moving average is $15.37. Remitly Global, Inc. has a one year low of $12.08 and a one year high of $27.32.

Institutional Investors Weigh In On Remitly Global

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in shares of Remitly Global by 0.5% during the second quarter. California State Teachers Retirement System now owns 135,843 shares of the financial services provider’s stock worth $2,550,000 after purchasing an additional 679 shares during the period. Exchange Traded Concepts LLC grew its position in Remitly Global by 29.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,098 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 714 shares during the period. Main Management ETF Advisors LLC increased its stake in Remitly Global by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 96,309 shares of the financial services provider’s stock valued at $1,329,000 after purchasing an additional 984 shares in the last quarter. Xponance Inc. raised its holdings in Remitly Global by 8.7% during the third quarter. Xponance Inc. now owns 13,291 shares of the financial services provider’s stock worth $217,000 after buying an additional 1,060 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in Remitly Global by 34.4% during the third quarter. AlphaQuest LLC now owns 4,359 shares of the financial services provider’s stock worth $71,000 after buying an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

Analyst Ratings Changes

RELY has been the topic of several research reports. Zacks Research raised shares of Remitly Global from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Cantor Fitzgerald upgraded Remitly Global to a “strong-buy” rating in a research note on Tuesday, January 27th. The Goldman Sachs Group restated a “buy” rating and set a $17.00 price objective on shares of Remitly Global in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Remitly Global in a report on Monday, December 29th. Finally, Monness Crespi & Hardt cut their price target on Remitly Global from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.70.

About Remitly Global

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.