Yahoo Finance One Remitly Global Insider Raised Stake By 17% In Previous Year
Looking at Remitly Global, Inc.'s (NASDAQ:RELY ) insider transactions over the last year, we can see that insiders were net buyers. That is, there were more number of shares purchased by insiders than there were sold.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.
Check out our latest analysis for Remitly Global
Remitly Global Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by Independent Director Nigel Morris for US$4.8m worth of shares, at about US$19.97 per share. That means that even when the share price was higher than US$18.52 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when an insider has purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. Nigel Morris was the only individual insider to buy shares in the last twelve months.
Nigel Morris purchased 300.00k shares over the year. The average price per share was US$19.36. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Remitly Global is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Remitly Global Insiders Are Selling The Stock
Over the last three months, we've seen significant insider selling at Remitly Global. In total, Chief Technology Officer Ankur Sinha dumped US$714k worth of shares in that time, and we didn't record any purchases whatsoever. This may suggest that some insiders think that the shares are not cheap.
Does Remitly Global Boast High Insider Ownership?
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. It's great to see that Remitly Global insiders own 6.7% of the company, worth about US$242m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
So What Does This Data Suggest About Remitly Global Insiders?
An insider hasn't bought Remitly Global stock in the last three months, but there was some selling. But we take heart from prior transactions. On top of that, insiders own a significant portion of the company. So we're not too bothered by recent selling. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Remitly Global. At Simply Wall St, we found 2 warning signs for Remitly Global that deserve your attention before buying any shares.
But note: Remitly Global may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
