Remitly Global, Inc. $RELY Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC decreased its position in shares of Remitly Global, Inc. (NASDAQ:RELY) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,516 shares of the financial services provider’s stock after selling 11,400 shares during the period. First Eagle Investment Management LLC owned 0.23% of Remitly Global worth $8,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in shares of Remitly Global during the 1st quarter valued at $1,231,000. Envestnet Asset Management Inc. boosted its stake in Remitly Global by 10.8% during the first quarter. Envestnet Asset Management Inc. now owns 59,590 shares of the financial services provider’s stock valued at $1,239,000 after buying an additional 5,816 shares in the last quarter. Xponance Inc. grew its holdings in Remitly Global by 4.8% during the first quarter. Xponance Inc. now owns 11,391 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 518 shares during the period. Edgestream Partners L.P. grew its holdings in Remitly Global by 166.9% during the first quarter. Edgestream Partners L.P. now owns 84,417 shares of the financial services provider’s stock worth $1,756,000 after acquiring an additional 52,783 shares during the period. Finally, Jackson Creek Investment Advisors LLC bought a new stake in Remitly Global in the first quarter worth about $1,306,000. 74.25% of the stock is owned by institutional investors.

Remitly Global Stock Up 3.2%

Shares of NASDAQ:RELY opened at $12.71 on Friday. The company’s fifty day moving average is $16.70 and its two-hundred day moving average is $18.62. The company has a market cap of $2.66 billion, a P/E ratio of 141.22 and a beta of 0.10. Remitly Global, Inc. has a 12-month low of $12.16 and a 12-month high of $27.32.

Remitly Global (NASDAQ:RELY) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. Remitly Global had a return on equity of 3.20% and a net margin of 1.36%.The business had revenue of $419.49 million during the quarter, compared to analysts’ expectations of $413.73 million. During the same quarter last year, the firm posted $0.01 earnings per share. Remitly Global’s revenue was up 24.7% compared to the same quarter last year. Remitly Global has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts anticipate that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joshua Hug sold 40,777 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $18.41, for a total transaction of $750,704.57. Following the completion of the sale, the director directly owned 3,654,288 shares in the company, valued at approximately $67,275,442.08. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $15.59, for a total transaction of $227,348.97. Following the transaction, the chief executive officer directly owned 4,515,188 shares in the company, valued at $70,391,780.92. The trade was a 0.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 93,943 shares of company stock worth $1,696,348. Insiders own 7.50% of the company’s stock.

Analysts Set New Price Targets

RELY has been the subject of several research reports. KeyCorp restated an “overweight” rating and set a $28.00 price objective (up previously from $27.00) on shares of Remitly Global in a research report on Thursday, August 7th. William Blair restated an “outperform” rating on shares of Remitly Global in a report on Friday, October 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Remitly Global in a research report on Wednesday, October 8th. Zacks Research raised Remitly Global from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on Remitly Global from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.88.

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.