The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Remitly Global Inc shares valued at $321,615 were sold by Yoakum Rene on Dec 16 ’24. At $21.44 per share, Yoakum Rene sold 15,000 shares. The insider’s holdings dropped to 143,213 shares worth approximately $3.3 million following the completion of this transaction.
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Also, Oppenheimer Matthew B. sold 14,583 shares, netting a total of over 315,139 in proceeds. Following the sale of shares at $21.61 each, the insider now holds 4,402,428 shares.
Before that, Oppenheimer Matthew B. had sold 14,583 shares from its account. In a trade valued at $304,201, the Chief Executive Officer traded Remitly Global Inc shares for $20.86 each. Upon closing the transaction, the insider’s holdings decreased to 14,583 shares, worth approximately $101.9 million.
As published in a research note from Wells Fargo on October 31, 2024, Remitly Global Inc [RELY] has been rated up from an Underweight to an Equal weight and the price target has been revised to $18 from $13. Analysts at BMO Capital Markets upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in late February. As of January 17, 2024, Wells Fargo has initiated its “an Underweight” rating for RELY. Earlier on December 05, 2023, BMO Capital Markets initiated its rating. Their recommendation was “a Market perform” for RELY stock.
Analyzing RELY Stock Performance
During the last five days, there has been a surge of approximately 7.90%. Over the course of the year, Remitly Global Inc shares have jumped approximately 18.80%. Shares of the company reached a 52-week high of $23.09 on 12/26/24 and a 52-week low of $11.60 on 06/20/24. A 50-day SMA is recorded $19.31, while a 200-day SMA reached $16.02. Nevertheless, trading volume fell to 1.06 million shares from 0.36 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 22.64, which, if violated, would cause prices to drop to 22.22. In the upper region, resistance lies at 23.29. The next price resistance is at 23.52. RSI (Relative Strength Index) is 71.68 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.99, which suggests the price will decrease in the coming days. Percent R is at 0.80%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
