Don't Ignore The Insider Selling In Remitly Global

Some Remitly Global, Inc. (NASDAQ:RELY) shareholders may be a little concerned to see that the Chief Product Officer & CTO, Ankur Sinha, recently sold a substantial US$1.7m worth of stock at a price of US$24.11 per share. That sale reduced their total holding by 17% which is hardly insignificant, but far from the worst we've seen.

Our free stock report includes 1 warning sign investors should be aware of before investing in Remitly Global. Read for free now.

The Last 12 Months Of Insider Transactions At Remitly Global

In fact, the recent sale by Ankur Sinha was the biggest sale of Remitly Global shares made by an insider individual in the last twelve months, according to our records. So we know that an insider sold shares at around the present share price of US$23.13. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive).

In the last year Remitly Global insiders didn't buy any company stock. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

Check out our latest analysis for Remitly Global

I will like Remitly Global better if I see some big insider buys. While we wait, check out this free list of undervalued and small cap stocks with considerable, recent, insider buying.

Insider Ownership

For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Remitly Global insiders own 5.6% of the company, currently worth about US$264m based on the recent share price. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.

What Might The Insider Transactions At Remitly Global Tell Us?

An insider sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. In terms of investment risks, we've identified 1 warning sign with Remitly Global and understanding this should be part of your investment process.

Of course Remitly Global may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

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.