Remitly director Phillip Riese sells $1.64m in shares By Investing.com

Phillip Riese, a director at Remitly Global, Inc. (), recently sold company common stock totaling approximately $1.64 million, according to a Form 4 filing with the Securities and Exchange Commission. The transactions took place on August 12, 2026.

Mr. Riese disposed of a total of 69,818 shares of common stock. One block of 40,000 shares was sold at a weighted average price of $23.54 per share, with individual sale prices ranging from $23.50 to $23.63. An additional 29,818 shares were sold at a weighted average price of $23.55 per share, with prices for these transactions ranging from $23.50 to $23.56. The timing of the sale comes as Remitly shares have surged over 100% in the past six months, currently trading at $25.62. According to an InvestingPro tip, the stock has experienced a large price uptick over the last six months.

Prior to these sales, Mr. Riese acquired 69,818 shares of common stock by exercising stock options at a price of $0.64 per share, a transaction valued at $44,683. These options became fully vested and exercisable on December 15, 2017.

Following these reported transactions, Mr. Riese directly holds 261,094 shares of Remitly Global, Inc. common stock. The company, valued at $5.42 billion, remains undervalued according to InvestingPro analysis. For investors seeking deeper insights, InvestingPro offers a comprehensive Pro Research Report on RELY, one of 1,400+ US equities covered with expert analysis and actionable intelligence.

In other recent news, Remitly Global reported impressive second-quarter 2026 earnings, surpassing Wall Street expectations for both profit and revenue. The company achieved adjusted earnings of $0.93 per share, significantly higher than the anticipated $0.13, alongside revenue of $495.2 million, exceeding forecasts of $485.9 million. This quarter marked a milestone for Remitly, with over 10 million quarterly active users. Additionally, Cantor Fitzgerald increased its price target for Remitly to $30, citing the company’s third-quarter and fiscal 2026 guidance, which includes projected revenues of $505 million to $507 million and adjusted EBITDA of $92 million to $94 million. Wolfe Research also raised its price target to $31, highlighting margin expansion and boosting its 2027 EBITDA estimate to $522 million from $488 million. These updates reflect a positive outlook from analysts, with both firms maintaining favorable ratings on Remitly’s shares.

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