Remitly (RELY) director Nigel Morris sells $444,906 shares By Investing.com

Nigel W. Morris, a director at Remitly Global, Inc. (), sold 16,751 shares of common stock on August 24, 2026, for a total value of $444,906.

The shares were sold at a weighted average price of $26.56. These transactions occurred in multiple parts, with prices ranging from $26.50 to $26.79 per share. Following these sales, Mr. Morris directly holds 1,811,056 shares of Remitly Global common stock.The insider sale comes as Remitly shares have surged 87% year-to-date and climbed 53% over the past six months. According to InvestingPro analysis, the stock remains undervalued relative to its Fair Value, with analysts maintaining a bullish outlook. Investors seeking deeper insights can access comprehensive analysis through InvestingPro’s Pro Research Report, available for RELY and 1,400+ other US equities.

In other recent news, Remitly Global reported second-quarter 2026 earnings that surpassed Wall Street expectations, with adjusted earnings of $0.93 per share, significantly higher than the anticipated $0.13. The company also achieved record quarterly revenue of $495.2 million, exceeding forecasts of $485.9 million and marking a 20% increase from the previous year. Additionally, Remitly reached a milestone of over 10 million quarterly active users. Analysts have reacted positively to these developments, with Cantor Fitzgerald raising its price target for Remitly to $30, citing the company’s third-quarter outlook and updated fiscal 2026 guidance. This outlook includes projected revenues between $505 million and $507 million and adjusted EBITDA ranging from $92 million to $94 million. Wolfe Research also increased its price target to $31, highlighting expectations of margin expansion and raising its 2027 EBITDA estimate to $522 million. These adjustments reflect confidence in Remitly’s financial trajectory and recent performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.