Robeco Institutional Asset Management B.V. Has $7.46 Million Stock Holdings in Remitly Global, Inc. (NASDAQ:RELY)

Robeco Institutional Asset Management B.V. decreased its stake in shares of Remitly Global, Inc. (NASDAQ:RELY) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 557,300 shares of the financial services provider’s stock after selling 51,700 shares during the period. Robeco Institutional Asset Management B.V. owned 0.29% of Remitly Global worth $7,462,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its stake in shares of Remitly Global by 409.8% during the first quarter. Advisors Asset Management Inc. now owns 1,672 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,344 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Remitly Global in the 1st quarter valued at $37,000. Blue Trust Inc. acquired a new stake in shares of Remitly Global in the 2nd quarter valued at $43,000. nVerses Capital LLC raised its position in shares of Remitly Global by 2,900.0% during the second quarter. nVerses Capital LLC now owns 9,000 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 8,700 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new position in shares of Remitly Global during the second quarter valued at $138,000. Institutional investors own 74.25% of the company’s stock.

Insider Buying and Selling

In other Remitly Global news, insider Pankaj Sharma sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $20.00, for a total transaction of $80,000.00. Following the sale, the insider now directly owns 151,576 shares in the company, valued at approximately $3,031,520. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Remitly Global news, insider Pankaj Sharma sold 4,000 shares of the 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 owns 151,576 shares in the company, valued at approximately $3,031,520. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew B. Oppenheimer sold 40,119 shares of Remitly Global stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $14.22, for a total value of $570,492.18. Following the completion of the sale, the chief executive officer now directly owns 4,542,613 shares in the company, valued at $64,595,956.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Remitly Global Stock Down 1.3 %

Shares of RELY stock opened at $19.47 on Friday. Remitly Global, Inc. has a 12-month low of $11.60 and a 12-month high of $23.01. The firm has a fifty day moving average of $14.50 and a 200-day moving average of $14.03. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -55.63 and a beta of 0.03.

Remitly Global (NASDAQ:RELY) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The firm had revenue of $336.53 million during the quarter, compared to analysts’ expectations of $320.71 million. Remitly Global had a negative return on equity of 11.58% and a negative net margin of 5.63%. The company’s revenue was up 39.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) earnings per share. Research analysts expect that Remitly Global, Inc. will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on Remitly Global from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target on shares of Remitly Global from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Monness Crespi & Hardt raised their price objective on shares of Remitly Global from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JMP Securities upped their target price on shares of Remitly Global from $22.00 to $25.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price target on Remitly Global from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

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.