Charles Schwab Investment Management Inc. Has $28.14 Million Position in Remitly Global, Inc. (NASDAQ:RELY)

Charles Schwab Investment Management Inc. raised its stake in Remitly Global, Inc. (NASDAQ:RELY) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,246,582 shares of the financial services provider’s stock after purchasing an additional 25,616 shares during the period. Charles Schwab Investment Management Inc. owned 0.63% of Remitly Global worth $28,135,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RELY. Assetmark Inc. bought a new stake in shares of Remitly Global in the third quarter valued at about $76,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Remitly Global in the third quarter valued at about $1,953,000. Pathstone Holdings LLC boosted its position in shares of Remitly Global by 2.1% in the third quarter. Pathstone Holdings LLC now owns 355,713 shares of the financial services provider’s stock valued at $4,763,000 after acquiring an additional 7,302 shares during the period. Caprock Group LLC boosted its position in shares of Remitly Global by 7.7% in the third quarter. Caprock Group LLC now owns 37,869 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 2,710 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Remitly Global by 58.7% in 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 during the period. Institutional investors own 74.25% of the company’s stock.

Insider Transactions at Remitly Global

In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $25.21, for a total value of $367,637.43. Following the completion of the transaction, the chief executive officer now owns 4,358,679 shares of the company’s stock, valued at $109,882,297.59. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 8.10% of the company’s stock.

Remitly Global Trading Down 1.9 %

RELY stock opened at $19.52 on Tuesday. The stock has a market capitalization of $3.92 billion, a P/E ratio of -102.74 and a beta of 0.07. Remitly Global, Inc. has a 12 month low of $11.60 and a 12 month high of $27.32. The firm has a 50-day moving average price of $23.48 and a 200-day moving average price of $19.66.

Remitly Global (NASDAQ:RELY) last posted its earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The firm had revenue of $351.90 million during the quarter, compared to analysts’ expectations of $343.67 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. As a group, equities analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Remitly Global from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on shares of Remitly Global from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Barclays upped their price objective on shares of Remitly Global from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. The Goldman Sachs Group upped their price objective on shares of Remitly Global from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.13.

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.