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Remitly Global Inc [RELY] Chief Executive Officer makes an insider sale of 10,416 shares worth 148,324.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Remitly Global Inc shares valued at $148,324 were sold by Oppenheimer Matthew B. on May 14 ’24. At $14.24 per share, Oppenheimer Matthew B. sold 10,416 shares. The insider’s holdings dropped to 4,636,357 shares worth approximately $65.98 million following the completion of this transaction.

Also, Oppenheimer Matthew B. sold 10,416 shares, netting a total of over 149,157 in proceeds. Following the sale of shares at $14.32 each, the insider now holds 4,646,773 shares.

Before that, Oppenheimer Matthew B. had sold 10,416 shares from its account. In a trade valued at $186,863, the Chief Executive Officer traded Remitly Global Inc shares for $17.94 each. Upon closing the transaction, the insider’s holdings decreased to 10,416 shares, worth approximately $66.27 million.

As published in a research note from BMO Capital Markets on February 22, 2024, Remitly Global Inc [RELY] has been rated up from a Market perform to an Outperform and the price target has been revised to $28 from $24. Analysts at Wells Fargo started covering the stock with ‘”an Underweight”‘ outlook in a report released in mid January. As of December 05, 2023, BMO Capital Markets has initiated its “Market perform” rating for RELY. Earlier on December 01, 2023, Wolfe Research downgraded its rating. Their new recommendation was “a Peer perform” for RELY stock which previously was a “an Outperform”.

Analyzing RELY Stock Performance

During the last five days, there has been a drop of approximately -4.24%. Over the course of the year, Remitly Global Inc shares have dropped approximately -26.73%. Shares of the company reached a 52-week high of $22.08 on 02/22/24 and a 52-week low of $13.60 on 05/02/24. A 50-day SMA is recorded $18.80, while a 200-day SMA reached $21.00. Nevertheless, trading volume fell to 2.91 million shares from 2.09 million shares the previous day.

Support And Resistance Levels for Remitly Global Inc (RELY)

According to the 24-hour chart, there is a support level at 14.11, which, if violated, would cause prices to drop to 14.00. In the upper region, resistance lies at 14.37. The next price resistance is at 14.52. RSI (Relative Strength Index) is 20.49 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.38, which suggests the price will decrease in the coming days. Percent R is at 86.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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