Remitly Global, Inc. (NASDAQ:RELY) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its position in Remitly Global, Inc. (NASDAQ:RELY) by 13.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,968,918 shares of the financial services provider’s stock after acquiring an additional 239,440 shares during the period. Deutsche Bank AG owned 0.99% of Remitly Global worth $44,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Remitly Global during the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in shares of Remitly Global during the fourth quarter valued at approximately $89,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Remitly Global during the fourth quarter valued at approximately $135,000. KBC Group NV boosted its position in Remitly Global by 49.7% during the fourth quarter. KBC Group NV now owns 6,121 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 2,033 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Remitly Global during the fourth quarter worth about $155,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on RELY shares. JMP Securities reiterated a “market outperform” rating and set a $32.00 price target on shares of Remitly Global in a report on Thursday, April 10th. Monness Crespi & Hardt lifted their price target on shares of Remitly Global from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. The Goldman Sachs Group increased their target price on Remitly Global from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. William Blair restated an “outperform” rating on shares of Remitly Global in a research note on Thursday, February 20th. Finally, KeyCorp raised their target price on shares of Remitly Global from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.88.

Insider Transactions at Remitly Global

In related news, insider Joshua Hug sold 37,718 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $793,963.90. Following the transaction, the insider now owns 3,776,093 shares of the company’s stock, valued at $79,486,757.65. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ankur Sinha sold 5,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $19.01, for a total value of $95,050.00. Following the transaction, the insider now directly owns 397,805 shares in the company, valued at $7,562,273.05. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,301 shares of company stock worth $1,560,012. Company insiders own 7.50% of the company’s stock.

Remitly Global Trading Down 1.1%

RELY stock opened at $24.22 on Wednesday. The company has a market capitalization of $4.94 billion, a P/E ratio of -127.47 and a beta of 0.16. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $27.32. The business has a 50 day simple moving average of $20.47 and a 200-day simple moving average of $21.59.

Remitly Global (NASDAQ:RELY) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. The firm had revenue of $361.62 million for the quarter, compared to analysts’ expectations of $347.81 million. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) EPS. Research analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.

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.