GuruFocus - On August 22, 2024, Matthew Oppenheimer, Chief Executive Officer of Remitly Global Inc (NASDAQ:RELY), executed a sale of 53,625 shares of the company. According to the SEC Filing, the transaction was carried out at an average price of $14.18 per share, totaling approximately $760,431.50. Following this transaction, the insider now owns 4,582,732 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 199,465 shares and has not made any purchases of the company's stock. The insider transaction history for Remitly Global Inc shows a pattern of more sales than purchases among insiders, with 34 insider sells and only 2 insider buys over the past year.
Shares of Remitly Global Inc were trading at $14.18 on the day of the sale, giving the company a market cap of approximately $2.69 billion. The stock's valuation metrics, including the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, are calculated based on historical trading multiples, adjustments for past performance, and future business projections.
The current price of $14.18 compared to the GF Value of $20.47 suggests that the stock is possibly undervalued. The price-to-GF-Value ratio stands at 0.69, indicating that the stock might be a possible value trap and warrants caution before investment.
This sale by the insider could be part of normal portfolio adjustments or other personal financial planning. Investors often look at insider transactions as one of many indicators to gauge the potential future performance of a company's stock.
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.
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