Edgestream Partners L.P. Trims Stake in Remitly Global, Inc. $RELY

Edgestream Partners L.P. lessened its position in Remitly Global, Inc. (NASDAQ:RELY) by 65.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,737 shares of the financial services provider’s stock after selling 21,953 shares during the quarter. Edgestream Partners L.P.’s holdings in Remitly Global were worth $184,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in Remitly Global by 48.2% in the fourth quarter. Baillie Gifford & Co. now owns 11,658,558 shares of the financial services provider’s stock worth $160,888,000 after purchasing an additional 3,790,210 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Remitly Global by 86.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,554,016 shares of the financial services provider’s stock valued at $90,530,000 after buying an additional 2,567,446 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Remitly Global by 74.4% in the third quarter. Marshall Wace LLP now owns 4,599,144 shares of the financial services provider’s stock worth $74,966,000 after buying an additional 1,962,076 shares during the period. Capital International Investors bought a new stake in shares of Remitly Global during the 4th quarter worth approximately $24,328,000. Finally, UBS Group AG boosted its holdings in Remitly Global by 189.7% during the 3rd quarter. UBS Group AG now owns 2,418,069 shares of the financial services provider’s stock valued at $39,415,000 after acquiring an additional 1,583,432 shares during the period. 74.25% of the stock is owned by hedge funds and other institutional investors.

Remitly Global Trading Up 7.7%

RELY opened at $25.93 on Friday. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 18.65 and a beta of 0.34. Remitly Global, Inc. has a 12-month low of $12.08 and a 12-month high of $27.15. The business’s fifty day simple moving average is $22.15 and its 200-day simple moving average is $19.05.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.81. Remitly Global had a net margin of 16.85% and a return on equity of 35.95%. The company had revenue of $495.16 million during the quarter, compared to analyst estimates of $486.25 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities research analysts predict that Remitly Global, Inc. will post 0.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RELY. Zacks Research lowered Remitly Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Cantor Fitzgerald boosted their target price on shares of Remitly Global from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Citizens Jmp raised their price target on shares of Remitly Global from $30.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Thursday. Monness Crespi & Hardt reiterated a “buy” rating on shares of Remitly Global in a report on Thursday. Finally, KeyCorp boosted their price objective on shares of Remitly Global from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.44.

Insiders Place Their Bets

In related news, Director Joshua Hug sold 16,800 shares of Remitly Global stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $22.97, for a total transaction of $385,896.00. Following the transaction, the director directly owned 3,385,457 shares of the company’s stock, valued at $77,763,947.29. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikas D. Mehta sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $21.07, for a total transaction of $526,750.00. Following the completion of the transaction, the chief financial officer directly owned 988,004 shares of the company’s stock, valued at $20,817,244.28. This trade represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 170,388 shares of company stock worth $3,725,510. 6.53% of the stock is owned by corporate insiders.

More Remitly Global News

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Quarterly results exceeded expectations. Remitly reported $495.2 million in Q2 revenue, up 20.2% year over year and above the $486.3 million consensus estimate. Reported EPS of $0.93 also significantly surpassed the $0.12 consensus, while revenue and earnings growth accelerated from the prior-year period. Remitly Reports Record Second Quarter Results and Raises Full Year 2026 Outlook
• Positive Sentiment: Operating momentum remained strong. Quarterly send volume increased 27% year over year, active customers surpassed 10 million, and adjusted EBITDA rose 79% to $114.7 million. These metrics support the investment case for continued scale and improving profitability. Remitly Global Earnings Call Highlights Growth And Risks
• Positive Sentiment: Management raised its 2026 outlook. Full-year revenue guidance was set at approximately $2.0 billion, while third-quarter revenue guidance of $505 million to $507 million is above the $503.8 million analyst consensus. The guidance suggests demand is holding up despite the company’s larger scale. Raised Full Year 2026 Outlook
• Positive Sentiment: Citizens JMP raised its price target from $30 to $32 and maintained a “market outperform” rating, implying further potential upside from the recent trading level. Citizens JMP Price Target Increase
• Neutral Sentiment: Investors should separate recurring performance from one-time items. Q2 net income included a $140.6 million discrete tax benefit, which materially boosted reported profitability and makes the headline EPS figure less representative of ongoing operations. Management’s earnings call also highlighted risks alongside the growth outlook. Q2 2026 Earnings Call Transcript

Remitly Global Profile

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.