Remitly CFO Vikas Mehta sells $653,750 in company stock

On August 25, 2026, Remitly Global, Inc.'s CFO Vikas Mehta sold 25,000 shares of the company's common stock, totaling $653,750. The sale was made under a pre-existing Rule 10b5-1 plan, with shares traded at prices between $25.83 and $26.39, averaging $26.15 per share. This action resulted in Mehta owning 943,735 shares after 19,269 shares were withheld for tax purposes.

Despite this insider sale, Remitly's shares have seen impressive growth, up 87% year-to-date and near its 52-week high of $27.15. The company is currently undervalued, indicating potential for further upside. Remitly has reported strong earnings recently, exceeding expectations and achieving profitability with a P/E ratio of 19.1.

Analysts from Cantor Fitzgerald and Wolfe Research have raised their price targets for the stock, reflecting positive outlooks on the company's future performance and potential.