Remitly’s chief product and tech officer sells $95,050 in stock

Published 19/03/2025, 21:12
Remitly’s chief product and tech officer sells $95,050 in stock

Ankur Sinha, the Chief Product and Tech Officer at Remitly Global , Inc. (NASDAQ:RELY), recently sold 5,000 shares of the company’s common stock. The transactions, which took place on March 17, 2025, were executed at a weighted average price of $19.01 per share, generating a total value of $95,050. Following this sale, Sinha holds 397,805 shares in the company. The shares were sold in multiple transactions, with prices ranging from $19.00 to $19.06.The sale comes as Remitly shows strong business momentum, with revenue growing 34% year-over-year and the stock gaining nearly 37% over the past six months. According to InvestingPro analysis, the company maintains a healthy liquidity position with a current ratio of 2.73, while trading near its Fair Value. InvestingPro has identified 8 additional key factors affecting RELY’s outlook, available in the comprehensive Pro Research Report, which provides detailed analysis of what matters most for investors.

In other recent news, Remitly Global has been the subject of several significant developments. A critical report by Spruce Point raised concerns about the company’s customer testimonials, Trustpilot reviews, and financial practices, suggesting potential overvaluation compared to peers. This report highlights issues such as misleading advertising and questions the company’s transparency and governance. In contrast, Citi analyst Andrew Schmidt has increased the price target for Remitly to $32, maintaining a Buy rating, citing the company’s sustained growth with revenue exceeding expectations and a projected 24-25% increase for fiscal year 2025. Similarly, JMP Securities also raised their price target to $32, maintaining a Market Outperform rating, following Remitly’s strong earnings report showing a 33% revenue increase and 39% growth in remittance volume. BMO Capital Markets sustained an Outperform rating with a $27 target, noting robust customer growth and strategic shifts towards prioritizing customer quality. These mixed assessments reflect the diverse perspectives on Remitly’s financial health and future prospects, with analysts acknowledging both the potential risks and growth opportunities facing the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.