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Tavis Luke, Chief Accounting Officer of Remitly Global, Inc. (NASDAQ:RELY), a $4.1 billion market cap fintech company with strong financial health according to InvestingPro, sold 2,920 shares of common stock on September 5, 2025, at a price of $20.0, totaling $58,400.
Following the transaction, Luke directly owns 2,416 shares of Remitly Global, Inc. The sale was executed automatically under a pre-arranged Rule 10b5-1 trading plan. With a price-to-earnings ratio of 301x and the stock trading near its 52-week high, InvestingPro analysis reveals 7 additional key indicators for investors to consider.
In other recent news, Remitly Global Inc. reported its second-quarter earnings for 2025, revealing a significant miss on earnings per share (EPS) expectations. The company’s EPS was $0.03, which was substantially below the forecasted $0.19, resulting in an 84.21% negative surprise. However, Remitly’s revenue exceeded expectations, reaching $411.9 million, driven by a 34% year-over-year increase. Wolfe Research upgraded Remitly Global’s stock rating to Outperform, setting a price target of $25.00, citing the company’s strong positioning in digital money transfer and financial services. KeyBanc also raised its price target for Remitly Global from $27.00 to $28.00, maintaining an Overweight rating. This adjustment followed Remitly’s solid quarterly results and raised guidance for fiscal year 2025. KeyBanc noted the company’s increasing platform potential through product innovations, including Remitly One and Remitly Business. These developments highlight Remitly Global’s ongoing efforts to expand its market presence and enhance its service offerings.
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