Joshua Hug Sells Shares of Remitly Global
Joshua Hug offloaded 8,500 shares of Remitly Global, Inc. in a planned sale.
Key Points
- On June 16, 2026, Joshua Hug sold 8,500 shares of Remitly Global, Inc. at an average price of $20.10, totaling $170,829.60.
- Remitly Global, Inc. trades on NasdaqGS with a market cap of approximately $4.3 billion and a P/E ratio of 42.56.
- BlackRock reduced its stake in Remitly Global by 875,383 shares, while FMR LLC significantly increased its holdings by 10,517,854 shares.
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Joshua Hug, an insider at Remitly Global, Inc., sold 8,500 shares of the company on June 16, 2026. The shares were sold at an average price of $20.10, amounting to $170,829.60. This transaction was part of a pre-planned trading arrangement.
Insider Buying and Selling at Remitly Global, Inc.
Joshua Hug has been active with multiple transactions recently. On June 17, 2026, he sold 16,033 shares at $20.76 per share. Earlier, on June 10, 2026, he purchased 2,546 shares in a non-planned transaction. Other insiders, including Phyllis Campbell and Bora Chung, also made notable purchases on June 10, 2026.
Other Institutional Activity in Remitly Global
BlackRock, Inc. reduced its stake in Remitly Global, trimming 875,383 shares to hold a total of 14,685,553 shares worth around $230.1 million. Naspers Ltd made a substantial reduction, cutting 12 million shares to hold 13,441,745 shares valued at $210.6 million. Meanwhile, Baillie Gifford & Co slightly increased its position by 159,749 shares, reaching a total of 11,818,307 shares valued at $185.2 million. FMR LLC notably boosted its holdings by 10,517,854 shares, now owning 10,736,104 shares worth approximately $168.2 million.
Remitly Global, Inc. Stock Down 23.1%
Shares of NasdaqGS:RELY traded near $20.36. Remitly Global, Inc. has a market capitalization of about $4.3 billion and a P/E ratio of 42.56. The stock's 52-week range is between $12.08 and $24.92, with a 50-day moving average of $20.67 and a 200-day moving average of $16.52. The company maintains a current ratio of 2.84 and a quick ratio of 2.196, with a debt-to-equity ratio of 4.331.
Recent Earnings
Remitly Global, Inc. reported revenue of approximately $1.73 billion, reflecting a growth rate of 25.2%. The company's net margin stands at 6.12%, and it achieved a return on equity of 12.95%. The next earnings report is expected on August 5, 2026.
Analysts Set New Price Targets
On May 11, 2026, Cantor Fitzgerald maintained its 'buy' rating for Remitly Global, setting a price target of $28. Other firms like Citizens and Keybanc also maintained 'buy' ratings with targets of $26 and $23, respectively. The consensus among analysts is a 'strong buy,' with a mean target price of $28.56 based on nine opinions.
About Remitly Global
Remitly Global, Inc. is a technology company based in Seattle, Washington, specializing in cross-border payment services. It provides digital financial services, including remittances through mobile apps and websites, primarily in the United States, Canada, and internationally. Founded in 2011, the company is led by CEO Mr. Sebastian J. Gunningham and employs around 3,200 people.
Bottom Line
Joshua Hug's recent sale of shares in Remitly Global, Inc. was part of a planned transaction, highlighting activity among insiders. Remitly Global continues to attract attention with its solid market presence and growth in the financial technology sector. As always, remember that insider transactions are just one piece of the puzzle, and 13F filings reflect positions at a point in time, not necessarily current holdings.
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