Remitly CEO Matthew B. Oppenheimer Sells 29,166 Shares at $17.28-$17.30/Share.

Remitly Global, Inc., a company with the ticker symbol RELY, has disclosed that Matthew B. Oppenheimer, a Director and Chief Executive Officer, has made a transaction involving the sale of 14,583 shares. The shares were sold at a price of $17.28 per share on July 16, 2025, and at a price of $17.3 per share on July 17, 2025.

Remitly Global, Inc. (RELY), a digital financial services provider for immigrants and their families, has seen a significant transaction involving its CEO, Matthew B. Oppenheimer. On July 16, 2025, Oppenheimer sold 14,583 shares of the company's common stock at a price of $17.28 per share. The following day, he sold another 14,583 shares at $17.30 per share [1].

This sale is part of a broader plan by Oppenheimer to comply with Rule 10b5-1(c) of the Securities Exchange Act of 1933, which requires pre-arranged trading plans to mitigate insider trading risks [1]. The plan, adopted on August 2, 2024, is intended to ensure that Oppenheimer's trades are executed in accordance with the company's strategy and not based on material, non-public information [1].

The sale comes amidst a period of increased institutional interest in Remitly Global. During the first quarter of 2025, Penserra Capital Management LLC increased its holdings by 448.2%, acquiring an additional 298,491 shares, and other institutional investors, such as Exchange Traded Concepts LLC and KBC Group NV, also made notable additions to their positions in the company [2].

Remitly Global reported its quarterly earnings on May 7, 2025, with earnings per share (EPS) of $0.05, beating the consensus estimate of ($0.04). The company's revenue for the quarter was $361.62 million, up 34.3% year-over-year. Despite the positive earnings, the stock has seen a 1.1% decline since the beginning of 2025, trading at $18.27 on July 2, 2025 [2].

Analysts have remained bullish on Remitly Global, with several firms upgrading their target prices and ratings. Goldman Sachs Group, Monness Crespi & Hardt, and JMP Securities have all issued "buy" ratings and increased their target prices, with the average target price among analysts currently at $28.88 [2].

References:
[1] https://www.streetinsider.com/SEC+Filings/Form+144+Remitly+Global%2C+Inc.+Filed+by%3A+Oppenheimer+Matthew+B./25060944.html
[2] https://www.marketbeat.com/instant-alerts/filing-penserra-capital-management-llc-buys-298491-shares-of-remitly-global-inc-nasdaqrely-2025-07-07/