Centiva Capital LP Purchases 6,136 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Centiva Capital LP boosted its position in Remitly Global, Inc. (NASDAQ:RELY) by 24.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,465 shares of the financial services provider’s stock after purchasing an additional 6,136 shares during the quarter. Centiva Capital LP’s holdings in Remitly Global were worth $421,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RELY. Blue Trust Inc. acquired a new position in shares of Remitly Global during the second quarter valued at about $43,000. Advisors Asset Management Inc. increased its holdings in shares of Remitly Global by 58.7% during the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,466 shares in the last quarter. Assetmark Inc. acquired a new position in shares of Remitly Global during the third quarter valued at about $76,000. FMR LLC increased its holdings in shares of Remitly Global by 39.8% during the third quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 1,970 shares in the last quarter. Finally, nVerses Capital LLC increased its holdings 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 valued at $109,000 after acquiring an additional 8,700 shares in the last quarter. 74.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Matthew B. Oppenheimer sold 40,119 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $14.22, for a total transaction of $570,492.18. Following the transaction, the chief executive officer now owns 4,542,613 shares in the company, valued at $64,595,956.86. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Pankaj Sharma sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $20.00, for a total value of $80,000.00. Following the transaction, the insider now owns 151,576 shares in the company, valued at $3,031,520. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,429 shares of company stock worth $1,131,011 in the last quarter. Corporate insiders own 8.10% of the company’s stock.

Remitly Global Trading Down 0.4 %

Remitly Global stock opened at $21.02 on Tuesday. Remitly Global, Inc. has a 12 month low of $11.60 and a 12 month high of $22.08. The stock’s 50 day simple moving average is $17.38 and its two-hundred day simple moving average is $14.74. The firm has a market cap of $4.16 billion, a PE ratio of -60.06 and a beta of 0.10.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RELY. Wells Fargo & Company upgraded shares of Remitly Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $18.00 in a report on Thursday, October 31st. Barclays increased their price target on shares of Remitly Global from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. KeyCorp increased their price target on shares of Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of Remitly Global from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, JMP Securities increased their price target on shares of Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.75.

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.