Remitly Global Inc (NASDAQ: RELY) is 6.85% higher on its value in year-to-date trading and has touched a low of $11.60 and a high of $22.08 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RELY stock was last observed hovering at around $20.56 in the last trading session, with the day’s gains setting it 0.19%.
Currently trading at $20.75, the stock is 3.39% and 25.61% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.5 million and changing 0.92% at the moment leaves the stock 30.40% off its SMA200. RELY registered -3.67% loss for a year compared to 6-month gain of 59.98%. The firm has a 50-day simple moving average (SMA 50) of $16.3868 and a 200-day simple moving average (SMA200) of $15.900475.
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The stock witnessed a 15.41% loss in the last 1 month and extending the period to 3 months gives it a 54.39%, and is -1.38% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.14% over the week and 3.57% over the month.
Remitly Global Inc (RELY) has around 2700 employees, a market worth around $4.06B and $1.18B in sales. Fwd P/E is 26.27. Profit margin for the company is -5.63%. Distance from 52-week low is 78.88% and -6.02% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.41%).
The EPS is expected to grow by 372.84% this year.
Remitly Global Inc (RELY) Top Institutional Holders
291.0 institutions hold shares in Remitly Global Inc (RELY), with institutional investors hold 87.54% of the company’s shares. The shares outstanding are 198.03M, and float is at 145.72M with Short Float at 6.35%. Institutions hold 82.40% of the Float.
The top institutional shareholder in the company is NASPERS LTD with over 37.34 million shares valued at $452.58 million. The investor’s holdings represent 19.6692% of the RELY Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 14.07 million shares valued at $170.58 million to account for 7.4136 of the shares outstanding. The other top investors are BLACKROCK INC. which holds 10.77 million shares representing 5.673% and valued at over $130.53 million, while BAILLIE GIFFORD & CO holds 5.3568 of the shares totaling 10.17 million with a market value of $123.26 million.
Remitly Global Inc (RELY) Insider Activity
The most recent transaction is an insider sale by Hug Joshua, the company’s Vice Chair. SEC filings show that Hug Joshua sold 22,198 shares of the company’s common stock on Nov 26 ’24 at a price of $20.62 per share for a total of $0.46 million. Following the sale, the insider now owns 3.87 million shares.
Remitly Global Inc disclosed in a document filed with the SEC on Nov 25 ’24 that Sharma Pankaj (Chief Business Officer) sold a total of 2,000 shares of the company’s common stock. The trade occurred on Nov 25 ’24 and was made at $21.04 per share for $42080.0. Following the transaction, the insider now directly holds 0.17 million shares of the RELY stock.
Still, SEC filings show that on Nov 25 ’24, Sinha Ankur (Chief Product and Tech Officer) disposed off 9,500 shares at an average price of $20.54 for $0.2 million. The insider now directly holds 357,071 shares of Remitly Global Inc (RELY).
