The Potential Rise in the Price of Remitly Global Inc. (RELY) following insiders activity


Remitly Global Inc.’s recent filing unveils that its EVP, Customer and Culture Yoakum Rene unloaded Company’s shares for reported $53955.0 on Nov 29. In the deal valued at $9.94 per share,5,427 shares were sold. As a result of this transaction, Yoakum Rene now holds 286 shares worth roughly $ 3389.1.

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Then, Hug Joshua sold 7,728 shares, generating $79,625 in total proceeds. Upon selling the shares at $10.30, the Chief Operating Officer now owns 4,173,631 shares.

Before that, Yoakum Rene sold 5,971 shares. Remitly Global Inc. shares valued at $59,705 were divested by the EVP, Customer and Culture at a price of $10.00 per share. As a result of the transaction, Yoakum Rene now holds 286 shares, worth roughly $3389.1.

Price Performance Review of RELY

On Tuesday, Remitly Global Inc. [NASDAQ:RELY] saw its stock fall -4.36% to $11.85. On the same session, the stock had its day’s lowest price of $11.80, but rose to a high of $12.54. Over the last five days, the stock has lost -1.90%. Remitly Global Inc. shares have risen nearly 3.49% since the year began. Nevertheless, the stocks have fallen -10.02% over the past one year. While a 52-week high of $13.59 was reached on 01/24/23, a 52-week low of $6.66 was recorded on 01/05/23. SMA at 50 days reached $10.66, while 200 days put it at $10.34. A total of 1.29 million shares were traded, compared to the trading of 0.97 million shares in the previous session.

Levels Of Support And Resistance For RELY Stock

The 24-hour chart illustrates a support level at 11.59, which if violated will result in even more drops to 11.32. On the upside, there is a resistance level at 12.33. A further resistance level may holdings at 12.80. The Relative Strength Index (RSI) on the 14-day chart is 59.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 41.07%. Stochastics %K at 80.10% indicates the stock is a selling.

How much short interest is there in Remitly Global Inc.?

A steep rise in short interest was recorded in Remitly Global Inc. stocks on Oct 13, 2022, growing by 1.53 million shares to a total of 4.89 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 3.36 million shares. There was a rise of 31.29%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.74% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.76.

Remitly Global Inc. [RELY] – Who Are The Largest Shareholders?

In filings from Generation Investment Management, it is revealed that the company now owns 11,075,871 shares, or roughly 6.49% of the outstanding RELY shares. Additionally, The Vanguard Group, Inc. increased 28.13% of its stake after which the total value it holdings stand at $96,441,278, while JPMorgan Investment Management, I added 38.43% of its stake to hold $89.86 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 1,843,196 shares of Remitly Global Inc., while Citadel Advisors LLC bought 2,860,778 shares. At present, Massachusetts Financial Services is holding 3,360,146 shares valued at $38.47 million. Adage Capital Management LP owned 2,170,312 shares of the company at the time of its most recent 13F filing, worth $24.85 million.

According to FactSet, Remitly Global Inc.’s share price will average $15.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.99 percent from its previous closing price of $12.39. Analysts expect Remitly Global Inc. stock to reach the higher price of $19.00, while the lowest price estimate is $12.00. However, 8 analysts have rated RELY stock as a Buy in their predictions for 2023.


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