Summit Creek Advisors LLC Sells 48,188 Shares of Remitly Global, Inc. $RELY

Summit Creek Advisors LLC decreased its position in shares of Remitly Global, Inc. (NASDAQ:RELY) by 15.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,549 shares of the financial services provider’s stock after selling 48,188 shares during the quarter. Remitly Global accounts for approximately 2.2% of Summit Creek Advisors LLC’s portfolio, making the stock its 19th largest holding. Summit Creek Advisors LLC owned 0.12% of Remitly Global worth $5,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RELY. BlackRock Inc. purchased a new stake in Remitly Global during the second quarter worth $410,752,000. Generation Investment Management LLP acquired a new stake in Remitly Global during the second quarter valued at $109,637,000. Bank of America Corp DE increased its holdings in Remitly Global by 471.7% in the first quarter. Bank of America Corp DE now owns 5,153,726 shares of the financial services provider’s stock valued at $80,759,000 after buying an additional 4,252,294 shares in the last quarter. Lead Edge Capital Management LLC purchased a new position in Remitly Global in the second quarter valued at $60,232,971. Finally, Assenagon Asset Management S.A. purchased a new position in Remitly Global in the third quarter valued at $31,985,000. Institutional investors and hedge funds own 74.25% of the company’s stock.

Insider Activity at Remitly Global

In related news, CFO Vikas D. Mehta sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $26.15, for a total transaction of $653,750.00. Following the completion of the transaction, the chief financial officer owned 943,735 shares in the company, valued at $24,678,670.25. This represents a 2.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Pankaj Sharma sold 21,000 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $26.39, for a total transaction of $554,190.00. Following the transaction, the insider owned 716,022 shares of the company’s stock, valued at approximately $18,895,820.58. This trade represents a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 315,118 shares of company stock worth $7,769,632 in the last ninety days. 6.53% of the stock is owned by company insiders.

Key Remitly Global News

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Remitly reported record third-quarter growth and beat earnings and revenue estimates. Earnings were $0.48 per share versus the Zacks consensus of $0.33, while revenue of $509.8 million topped estimates of $507.3 million. Article: Remitly Global Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management raised its 2026 outlook after the strong quarter, citing AI-driven efficiency, higher transaction volumes and expansion of payment services. It expects fourth-quarter revenue of $531 million to $533 million and outlined high-teens growth for 2027, bolstering the growth outlook. Article: RELY Q3 Earnings Call Highlights Growth and Higher Outlook
• Neutral Sentiment: Remitly’s management will participate in an investor conference and post-earnings webinar on November 9. The events may provide more detail on results and guidance but are not, by themselves, a change to the company’s outlook. Article: Remitly Announces Upcoming Webinar and Investor Conference Participation
• Negative Sentiment: Put-option trading was unusually active, with 2,262 puts purchased—134% above typical volume. This may reflect bearish positioning or hedging, though options activity alone does not establish a clear view of the stock’s direction.

Remitly Global Stock Performance

Remitly Global stock opened at $22.32 on Friday. The company’s fifty day moving average price is $23.59 and its 200 day moving average price is $20.71. Remitly Global, Inc. has a 1 year low of $12.08 and a 1 year high of $28.00. The stock has a market capitalization of $4.72 billion, a P/E ratio of 13.53 and a beta of 0.46.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The company had revenue of $509.84 million during the quarter, compared to analysts’ expectations of $507.31 million. Remitly Global had a net margin of 19.14% and a return on equity of 35.56%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Sell-side analysts predict that Remitly Global, Inc. will post 0.85 EPS for the current year.

Analyst Ratings Changes

RELY has been the topic of several recent analyst reports. Zacks Research lowered shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Wolfe Research lifted their price target on Remitly Global from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Monness Crespi & Hardt restated a “buy” rating on shares of Remitly Global in a research note on Thursday, August 6th. Citizens Jmp upped their price target on Remitly Global from $30.00 to $32.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded Remitly Global from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Remitly Global presently has an average rating of “Moderate Buy” and a consensus price target of $27.78.

About Remitly Global

Remitly Global, Inc is a digital financial services company that enables consumers to send money internationally. Its platform is designed primarily for immigrants and other customers who regularly transfer funds to family and friends in their countries of origin.

Through its mobile application and website, Remitly allows users to initiate cross-border remittances and select delivery options such as bank deposits, mobile-wallet transfers, cash pickup and, in some markets, home delivery.