Remitly global (RELY) director Hug sells $750k in stock

Published 02/09/2025, 22:44
Remitly global (RELY) director Hug sells $750k in stock

Director Joshua Hug of Remitly Global, Inc. (NASDAQ:RELY) sold 40,777 shares of common stock on August 29, 2025, for approximately $750,704. The sales were executed at prices ranging from $18.28 to $18.53. The fintech company, currently valued at $3.8 billion, has shown strong performance with a 38% return over the past year and revenue growth of 35% in the last twelve months.

Following the transaction, Hug directly owns 3,654,288 shares of Remitly Global . In addition, Hug indirectly owns 300,000 shares held by a family trust. According to InvestingPro analysis, Remitly maintains a healthy financial position with a current ratio of 2.85, indicating strong liquidity.

The sale was executed automatically under a pre-arranged Rule 10b5-1 trading plan. Based on InvestingPro’s Fair Value analysis, the stock appears slightly undervalued at current levels, with analysts setting price targets between $25 and $32.

In other recent news, Remitly Global Inc. reported its second-quarter earnings for 2025, revealing mixed results. The company’s earnings per share (EPS) fell short of expectations, coming in at $0.03 compared to the anticipated $0.19, which represents an 84.21% negative surprise. However, the revenue numbers were more promising, with Remitly posting $411.9 million, surpassing forecasts by 6.88% and reflecting a 34% year-over-year increase. In addition to these earnings results, KeyBanc raised its price target for Remitly Global to $28 from $27, maintaining an Overweight rating. The price target adjustment follows the company’s solid quarterly performance and enhanced guidance for fiscal year 2025. KeyBanc noted Remitly’s growing platform potential, highlighted by innovations like Remitly One and Remitly Business. These developments suggest a positive outlook for the company’s future growth.

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