What the bad jobs report means for markets
Somalya Saema, the Chief Legal and Compliance Administrative Officer (CLCAO) of Remitly Global , Inc. (NASDAQ:RELY), recently sold shares in the company. According to a recent SEC filing, Saema sold a total of 10,495 shares of Remitly’s common stock on February 25, 2025, at an average price of $23.94 per share, amounting to a total transaction value of $251,250. The transaction comes as Remitly, currently valued at $4.78 billion, has seen its stock surge over 75% in the past six months, according to InvestingPro data.
In addition to the sales, Saema also acquired shares through the vesting of Restricted Stock Units (RSUs). On the same day, Saema acquired 24,986 shares of common stock through the vesting of RSUs, as reflected in the filing. These acquisitions were made at no cost, as RSUs represent a contingent right to receive shares upon settlement.
Following these transactions, Saema holds a total of 68,973 shares in Remitly Global.
In other recent news, Remitly Global Inc has reported significant developments that are capturing the attention of investors. The company exceeded revenue expectations by 2-3% in the fourth quarter, with a projected revenue increase of 24-25% for fiscal year 2025. Analysts from Citi and JMP Securities have responded positively, raising their price targets for Remitly to $32 while maintaining a Buy and Market Outperform rating, respectively. Remitly’s latest earnings report revealed a 39% growth in remittance volume and a 33% increase in revenue, alongside a new EBITDA guidance approximately 15% higher than previous estimates.
BMO Capital Markets continues to hold an Outperform rating with a $27 target, noting Remitly’s robust customer growth and strategic marketing efficiency. The company’s app download and user engagement metrics have also been strong, contributing to a compelling growth-adjusted valuation. In another development, Remitly has entered into a consulting agreement with its outgoing EVP of Customer and Culture, Rene Yoakum, effective January 2025. This agreement includes stock options and health benefits, emphasizing the company’s commitment to its leadership team.
These recent developments reflect Remitly’s strategic focus on sustainable growth and operational efficiency, with analysts expressing confidence in the company’s financial trajectory.
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