Vikas D. Mehta, Chief Financial Officer of Remitly Global Inc., sold 25,000 common shares on August 25, 2026, for a total of $653,750 at a weighted average price of $26.15 per share. The transaction was executed under a Rule 10b5-1 trading plan adopted on November 21, 2025.
Mehta also retained 19,269 shares to cover tax withholding obligations tied to the vesting of restricted stock units, valued at $26.59 per share for a total of $512,362. After these moves, Mehta’s direct holdings in Remitly stand at 943,735 shares.
Remitly’s stock has climbed 87% year-to-date and trades near its 52-week high of $27.15. The company reported a trailing twelve-month price-to-earnings ratio of 19.1, having achieved profitability in the period.
For the second quarter of 2026, Remitly posted adjusted earnings per share of $0.93, exceeding Wall Street estimates of $0.13, while revenue reached $495.2 million against a forecast of $485.9 million. The company also surpassed 10 million quarterly active users.
Cantor Fitzgerald raised its price target for Remitly to $30, citing an improved outlook for the third quarter and fiscal year 2026, with projected revenue between $505 million and $507 million and adjusted EBITDA of $92 million to $94 million. Wolfe Research lifted its target to $31, highlighting expected margin expansion and raising its 2027 EBITDA estimate from $488 million to $522 million.
