On October 18, 2024, Matthew Oppenheimer, Chief Executive Officer of Remitly Global Inc (RELY, Financial), executed a sale of 50,535 shares of the company. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 4,532,197 shares of Remitly Global Inc.
Remitly Global Inc is a provider of remittance and financial services solutions, focusing on transforming the lives of immigrants and their families by providing the most trusted financial services on the planet.
Over the past year, Matthew Oppenheimer has sold a total of 250,000 shares and has not made any purchases of the company's stock. This recent sale is part of a broader trend observed within the company, where insider transactions have predominantly been sales. In the past year, there have been 31 insider sales and only 2 insider buys at Remitly Global Inc.
The shares were sold at a price of $14.37 each, valuing the transaction at approximately $726,019.95. On the day of the sale, Remitly Global Inc had a market cap of approximately $2.93 billion.
According to the GF Value, the intrinsic value of Remitly Global Inc is estimated at $21.21 per share, suggesting that the stock is modestly undervalued with a price-to-GF-Value ratio of 0.68. The GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates provided by Morningstar analysts.
This insider sale could be of interest to investors tracking insider behaviors, especially in the context of the company's current valuation and stock performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
