Baillie Gifford & Co. Has $211.83 Million Stake in Remitly Global, Inc. (NASDAQ:RELY)

Baillie Gifford & Co. lifted its holdings in shares of Remitly Global, Inc. (NASDAQ:RELY) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,385,334 shares of the financial services provider’s stock after buying an additional 150,602 shares during the quarter. Baillie Gifford & Co.’s holdings in Remitly Global were worth $211,827,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RELY. Principal Financial Group Inc. boosted its stake in Remitly Global by 10,213.8% during the 3rd quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider’s stock worth $27,058,000 after acquiring an additional 2,001,198 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Remitly Global by 13.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider’s stock worth $47,578,000 after acquiring an additional 431,987 shares during the last quarter. Barclays PLC boosted its stake in Remitly Global by 19.2% during the 3rd quarter. Barclays PLC now owns 1,408,402 shares of the financial services provider’s stock worth $18,858,000 after acquiring an additional 227,231 shares during the last quarter. Portolan Capital Management LLC boosted its stake in Remitly Global by 96.3% during the 3rd quarter. Portolan Capital Management LLC now owns 353,054 shares of the financial services provider’s stock worth $4,727,000 after acquiring an additional 173,162 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Remitly Global by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,657,924 shares of the financial services provider’s stock worth $48,980,000 after acquiring an additional 169,454 shares during the last quarter. Institutional investors own 74.25% of the company’s stock.

Analysts Set New Price Targets

RELY has been the topic of several recent analyst reports. JMP Securities lifted their price objective on shares of Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Remitly Global from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Barclays lifted their price target on shares of Remitly Global from $23.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, KeyCorp lifted their price target on shares of Remitly Global from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Remitly Global currently has an average rating of “Moderate Buy” and a consensus target price of $23.75.

Insider Transactions at Remitly Global

In related news, insider Joshua Hug sold 22,198 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total transaction of $457,722.76. Following the transaction, the insider now directly owns 3,873,811 shares in the company, valued at approximately $79,877,982.82. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $20.86, for a total transaction of $304,201.38. Following the transaction, the chief executive officer now owns 4,417,011 shares in the company, valued at approximately $92,138,849.46. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,059 shares of company stock valued at $1,489,808 over the last 90 days. 8.10% of the stock is owned by corporate insiders.

Remitly Global Price Performance

Shares of RELY stock opened at $27.14 on Monday. The company’s fifty day simple moving average is $23.17 and its 200-day simple moving average is $18.31. Remitly Global, Inc. has a 12 month low of $11.60 and a 12 month high of $27.24.

Remitly Global Company Profile

Remitly Global, Inc provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 170 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.