11,940 Shares in Remitly Global, Inc. (NASDAQ:RELY) Bought by Dakota Wealth Management

Dakota Wealth Management bought a new position in shares of Remitly Global, Inc. (NASDAQ:RELY) in the fourth quarter, HoldingsChannel.com reports. The firm bought 11,940 shares of the financial services provider’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Millennium Management LLC lifted its position in shares of Remitly Global by 108.0% during the 2nd quarter. Millennium Management LLC now owns 3,987,899 shares of the financial services provider’s stock worth $48,333,000 after purchasing an additional 2,071,026 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Remitly Global by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,657,924 shares of the financial services provider’s stock valued at $48,980,000 after acquiring an additional 169,454 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Remitly Global by 13.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider’s stock worth $47,578,000 after acquiring an additional 431,987 shares during the last quarter. Geode Capital Management LLC increased its position in Remitly Global by 3.2% during the third quarter. Geode Capital Management LLC now owns 3,479,666 shares of the financial services provider’s stock worth $46,601,000 after acquiring an additional 107,468 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Remitly Global by 25.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,132,232 shares of the financial services provider’s stock valued at $25,843,000 after purchasing an additional 435,827 shares during the last quarter. 74.25% of the stock is owned by institutional investors and hedge funds.

Remitly Global Stock Performance

RELY opened at $23.02 on Friday. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -65.77 and a beta of 0.07. The firm’s 50-day simple moving average is $21.94 and its 200-day simple moving average is $17.08. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $23.74.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. Remitly Global had a negative net margin of 5.63% and a negative return on equity of 11.58%. The company had revenue of $336.53 million during the quarter, compared to analyst estimates of $320.71 million. During the same quarter last year, the business posted ($0.20) earnings per share. The company’s revenue was up 39.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Remitly Global, Inc. will post -0.23 EPS for the current fiscal year.

Insider Activity at Remitly Global

In other Remitly Global news, insider Joshua Hug sold 22,198 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total value of $457,722.76. Following the completion of the sale, the insider now owns 3,873,811 shares in the company, valued at approximately $79,877,982.82. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Pankaj Sharma sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $20.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now directly owns 151,576 shares of the company’s stock, valued at approximately $3,031,520. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,476 shares of company stock valued at $1,202,171 in the last three months. Corporate insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JMP Securities boosted their price objective on shares of Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Barclays boosted their price target on Remitly Global from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Wells Fargo & Company raised their price objective on Remitly Global from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, KeyCorp boosted their price objective on Remitly Global from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.13.

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.