On May 14, 2024, Matthew Oppenheimer, the Chief Executive Officer of Remitly Global Inc (RELY, Financial), executed a sale of 20,832 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider has cumulatively sold 145,840 shares over the past year, with no recorded purchases.
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. The company operates globally, offering services that facilitate cross-border money transfers.
On the date of the sale, shares of Remitly Global Inc were priced at $14.28. This pricing places the company's market cap at approximately $2.74 billion.
The GF Value of the stock is currently $20.47, indicating a price-to-GF-Value ratio of 0.7. This suggests that the stock might be undervalued, classified as a Possible Value Trap, Think Twice according to GuruFocus valuation metrics.
The GF Value is derived from historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and estimated future business outcomes.
Over the past year, there have been 2 insider buys and 38 insider sells for Remitly Global Inc, reflecting a trend where more insiders are choosing to sell shares than buy.
This insider selling activity could be of interest to current and potential investors, providing insights into the insider's perspective on the company's current valuation and future prospects.
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.
