Matthew B. Oppenheimer, the Chief Government Officer of Remitly International , Inc. (NASDAQ:RELY), just lately offered a good portion of his holdings within the firm. Based on a submitting with the Securities and Alternate Fee, Oppenheimer offered a complete of 29,166 shares over two days, January 22 and January 23, 2025. The shares had been offered at costs starting from $23.14 to $23.19, amounting to a complete sale worth of $675,630. The sale comes as RELY trades close to its 52-week excessive of $23.67, having delivered a formidable 77% return over the previous six months. Based on InvestingPro evaluation, the inventory seems barely overvalued at present ranges.
These transactions had been executed routinely below a pre-established Rule 10b5-1 buying and selling plan. Following these gross sales, Oppenheimer retains possession of 4,373,262 shares of Remitly International, representing a major stake within the $4.66 billion market cap firm. InvestingPro subscribers can entry 8 further key insights about RELY, together with detailed valuation metrics and development prospects, with the corporate’s subsequent earnings report scheduled for February 19, 2025.
In different current information, Remitly International Inc. has skilled important developments. The corporate reported a 39% bounce in Q3 income to $336.5 million and a 35% improve in lively clients. BMO Capital Markets maintained an Outperform inventory ranking on Remitly, whereas Citi analyst Andrew Schmidt lifted the value goal for the corporate to $28, sustaining a Purchase ranking. KeyBanc Capital Markets additionally raised its worth goal for Remitly to $21, following a sturdy third-quarter efficiency.
As well as, Remitly entered a consulting settlement with outgoing Government Vice President Rene Yoakum, which incorporates advantages such because the vesting of inventory choices and restricted inventory models. These are current developments that replicate the corporate’s ongoing development and strategic maneuvers.
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