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.

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