Pankaj Sharma Sells 10,000 Shares of Remitly Global (NASDAQ:RELY) Stock

Remitly Global, Inc. (NASDAQ:RELY) insider Pankaj Sharma sold 10,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the insider owned 665,878 shares in the company, valued at approximately $13,317,560. This trade represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pankaj Sharma also recently made the following trade(s):

• On Wednesday, April 1st, Pankaj Sharma sold 10,000 shares of Remitly Global stock. The stock was sold at an average price of $15.26, for a total value of $152,600.00.
• On Thursday, February 19th, Pankaj Sharma sold 3,000 shares of Remitly Global stock. The stock was sold at an average price of $16.35, for a total value of $49,050.00.
• On Wednesday, February 11th, Pankaj Sharma sold 2,000 shares of Remitly Global stock. The stock was sold at an average price of $13.70, for a total value of $27,400.00.

Remitly Global Price Performance

Shares of NASDAQ RELY opened at $20.94 on Thursday. The firm has a market cap of $4.41 billion, a P/E ratio of 67.55, a price-to-earnings-growth ratio of 0.74 and a beta of 0.09. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.18. Remitly Global, Inc. has a 1-year low of $12.08 and a 1-year high of $24.70. The business’s 50 day moving average is $16.49 and its 200-day moving average is $14.96.

Remitly Global (NASDAQ:RELY) last announced its earnings results on Wednesday, February 18th. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.17. Remitly Global had a return on equity of 8.87% and a net margin of 4.15%.The company had revenue of $442.18 million for the quarter, compared to analyst estimates of $427.27 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. Equities research analysts predict that Remitly Global, Inc. will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RELY has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price objective on Remitly Global from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday. KeyCorp raised their price objective on Remitly Global from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citizens Jmp raised their price objective on Remitly Global from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 19th. JPMorgan Chase & Co. decreased their price target on Remitly Global from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Finally, Freedom Capital upgraded Remitly Global to a “strong-buy” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Hedge Funds Weigh In On Remitly Global

Several hedge funds and other institutional investors have recently modified their holdings of RELY. Pictet Asset Management Holding SA boosted its holdings in shares of Remitly Global by 2.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 97,733 shares of the financial services provider’s stock valued at $1,531,000 after acquiring an additional 2,410 shares in the last quarter. OP Asset Management Ltd bought a new stake in Remitly Global during the 1st quarter worth $412,000. Creek Drive Management Group LLC bought a new stake in Remitly Global during the 4th quarter worth $2,036,000. PEAK6 LLC grew its position in Remitly Global by 260.0% during the 4th quarter. PEAK6 LLC now owns 46,928 shares of the financial services provider’s stock worth $648,000 after acquiring an additional 76,258 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in Remitly Global by 4.2% during the 4th quarter. Corient Private Wealth LLC now owns 205,978 shares of the financial services provider’s stock worth $2,843,000 after acquiring an additional 8,300 shares during the last quarter. Institutional investors own 74.25% of the company’s stock.

Key Remitly Global News

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

• Positive Sentiment: Cantor Fitzgerald raised its price target to $24 and moved to an “overweight” rating, signaling analyst confidence and adding upside interest for investors. Cantor Fitzgerald PT raise
• Positive Sentiment: Recent quarterly results (Feb.) showed stronger-than-expected revenue and a return to positive EPS, supporting the stock’s rerating and investor optimism heading into the May 6 report. Recent quarter summary
• Neutral Sentiment: Remitly announced it will release Q1 2026 results after market close on May 6 and host a 2:00 PM PT / 5:00 PM ET webcast — a near-term catalyst that can drive volatility depending on beats/misses and guidance. Earnings date release
• Neutral Sentiment: Insider sales were disclosed: Director Phillip John Riese sold ~40,000 shares and insider Pankaj Sharma sold 10,000 shares (transactions reported as executed under pre-arranged Rule 10b5‑1 plans). These raise watchfulness but reduce concerns about opportunistic selling. Riese SEC filing Sharma sale report
• Negative Sentiment: Zacks Research downgraded Remitly from “strong-buy” to “hold,” which could temper momentum from buy-side upgrades and weigh on sentiment if other brokers follow. Zacks downgrade

Remitly Global Company Profile

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.