Point Nemo Capital LLC Makes New Investment in Remitly Global, Inc. $RELY

Point Nemo Capital LLC purchased a new stake in Remitly Global, Inc. (NASDAQ:RELY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 54,949 shares of the financial services provider’s stock, valued at approximately $1,173,000.

Other hedge funds have also recently bought and sold shares of the company. State of Wyoming bought a new position in Remitly Global during the 2nd quarter valued at about $935,000. Squarepoint Ops LLC acquired a new position in Remitly Global in the second quarter valued at about $6,282,000. Bank of America Corp DE acquired a new position in Remitly Global in the second quarter valued at about $27,757,000. California State Teachers Retirement System grew its stake in Remitly Global by 24.7% during the first quarter. California State Teachers Retirement System now owns 208,409 shares of the financial services provider’s stock worth $3,266,000 after buying an additional 41,221 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Remitly Global during the third quarter worth about $31,985,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Remitly Global Stock Performance

Shares of NASDAQ:RELY opened at $22.32 on Friday. Remitly Global, Inc. has a twelve month low of $12.08 and a twelve month high of $28.00. The firm has a market cap of $4.72 billion, a PE ratio of 13.53 and a beta of 0.46. The business has a fifty day moving average of $23.59 and a 200-day moving average of $20.71.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. The business had revenue of $509.84 million during the quarter, compared to analysts’ expectations of $507.31 million. Remitly Global had a return on equity of 35.56% and a net margin of 19.14%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 earnings per share. On average, analysts anticipate that Remitly Global, Inc. will post 0.85 EPS for the current fiscal year.

Key Stories Impacting Remitly Global

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Remitly reported record third-quarter growth and beat earnings and revenue estimates. Earnings were $0.48 per share versus the Zacks consensus of $0.33, while revenue of $509.8 million topped estimates of $507.3 million. Article: Remitly Global Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Management raised its 2026 outlook after the strong quarter, citing AI-driven efficiency, higher transaction volumes and expansion of payment services. It expects fourth-quarter revenue of $531 million to $533 million and outlined high-teens growth for 2027, bolstering the growth outlook. Article: RELY Q3 Earnings Call Highlights Growth and Higher Outlook
• Neutral Sentiment: Remitly’s management will participate in an investor conference and post-earnings webinar on November 9. The events may provide more detail on results and guidance but are not, by themselves, a change to the company’s outlook. Article: Remitly Announces Upcoming Webinar and Investor Conference Participation
• Negative Sentiment: Put-option trading was unusually active, with 2,262 puts purchased—134% above typical volume. This may reflect bearish positioning or hedging, though options activity alone does not establish a clear view of the stock’s direction.

Insider Activity at Remitly Global

In other Remitly Global news, CFO Vikas Mehta sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $26.15, for a total value of $653,750.00. Following the completion of the sale, the chief financial officer owned 943,735 shares in the company, valued at approximately $24,678,670.25. This trade represents a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joshua Hug sold 5,500 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $21.43, for a total transaction of $117,865.00. Following the completion of the transaction, the director directly owned 2,642,389 shares of the company’s stock, valued at approximately $56,626,396.27. This represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 315,118 shares of company stock worth $7,769,632 in the last quarter. Insiders own 6.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RELY. Wolfe Research raised their price objective on shares of Remitly Global from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Citizens Jmp lifted their target price on shares of Remitly Global from $30.00 to $32.00 and gave the company a “market outperform” rating in a research note on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Remitly Global in a report on Thursday, August 6th. Cantor Fitzgerald increased their price target on Remitly Global from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Finally, Zacks Research lowered Remitly Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.78.

About Remitly Global

Remitly Global, Inc is a digital financial services company that enables consumers to send money internationally. Its platform is designed primarily for immigrants and other customers who regularly transfer funds to family and friends in their countries of origin.

Through its mobile application and website, Remitly allows users to initiate cross-border remittances and select delivery options such as bank deposits, mobile-wallet transfers, cash pickup and, in some markets, home delivery.