KBC Group NV Purchases 2,033 Shares of Remitly Global, Inc. (NASDAQ:RELY)

KBC Group NV grew its position in Remitly Global, Inc. (NASDAQ:RELY) by 49.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,121 shares of the financial services provider’s stock after acquiring an additional 2,033 shares during the period. KBC Group NV’s holdings in Remitly Global were worth $138,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RELY. XTX Topco Ltd lifted its stake in Remitly Global by 4.0% in the 3rd quarter. XTX Topco Ltd now owns 14,515 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 563 shares during the last quarter. Claro Advisors LLC lifted its position in shares of Remitly Global by 5.2% in the fourth quarter. Claro Advisors LLC now owns 12,700 shares of the financial services provider’s stock valued at $287,000 after buying an additional 629 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Remitly Global by 1.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 86,561 shares of the financial services provider’s stock worth $1,159,000 after acquiring an additional 1,170 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Remitly Global by 58.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,466 shares during the last quarter. Finally, FMR LLC lifted its holdings in Remitly Global by 39.8% during the 3rd quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 1,970 shares during the last quarter. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Remitly Global Price Performance

Remitly Global stock opened at $25.52 on Friday. The firm has a market cap of $5.05 billion, a PE ratio of -72.91 and a beta of 0.07. The stock’s fifty day moving average price is $22.48 and its two-hundred day moving average price is $17.68. Remitly Global, Inc. has a one year low of $11.60 and a one year high of $25.74.

Insider Transactions at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $23.14, for a total transaction of $337,450.62. Following the sale, the chief executive officer now owns 4,387,845 shares in the company, valued at approximately $101,534,733.30. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joshua Hug sold 22,198 shares of Remitly Global stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total transaction of $457,722.76. Following the completion of the transaction, the insider now directly owns 3,873,811 shares in the company, valued at $79,877,982.82. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,476 shares of company stock valued at $1,122,171. 8.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RELY has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Remitly Global from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. JMP Securities increased their price target on shares of Remitly Global from $22.00 to $25.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. KeyCorp raised their price objective on shares of Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Barclays increased their target price on Remitly Global from $23.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Remitly Global presently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

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.