Remitly Global, Inc. (NASDAQ:RELY) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP decreased its position in shares of Remitly Global, Inc. (NASDAQ:RELY) by 74.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,264 shares of the financial services provider’s stock after selling 35,312 shares during the period. Aigen Investment Management LP’s holdings in Remitly Global were worth $164,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. increased its holdings in shares of Remitly Global by 1.3% in the first quarter. American International Group Inc. now owns 67,072 shares of the financial services provider’s stock valued at $1,391,000 after purchasing an additional 871 shares during the period. Simplicity Wealth LLC increased its holdings in shares of Remitly Global by 11.7% in the second quarter. Simplicity Wealth LLC now owns 11,756 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 1,228 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Remitly Global by 7.1% in the second quarter. Principal Financial Group Inc. now owns 19,593 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 1,296 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Remitly Global by 409.8% in 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 period. Finally, Arizona State Retirement System increased its holdings in shares of Remitly Global by 3.7% in the second quarter. Arizona State Retirement System now owns 39,579 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 1,415 shares during the period. Institutional investors and hedge funds own 74.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RELY. Monness Crespi & Hardt boosted their target price on Remitly Global from $29.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays boosted their target price on Remitly Global from $16.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, November 4th. JMP Securities lifted their price target on Remitly Global from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Remitly Global from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lifted their price target on Remitly Global from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.38.

Remitly Global Stock Down 1.0 %

Shares of NASDAQ:RELY opened at $19.64 on Monday. The company has a market capitalization of $3.89 billion, a P/E ratio of -56.11 and a beta of 0.03. The stock’s fifty day simple moving average is $15.24 and its 200-day simple moving average is $14.07. Remitly Global, Inc. has a 52-week low of $11.60 and a 52-week high of $22.49.

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

Insider Activity at Remitly Global

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 40,119 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $14.22, for a total transaction 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 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pankaj Sharma sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $20.00, for a total value of $80,000.00. Following the sale, the insider now owns 151,576 shares of the company’s stock, valued at $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 own 8.10% of the company’s stock.

Remitly Global 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.