Remitly director Joshua Hug sells $254,375 in company stock

Joshua Hug, a director at Remitly Global, Inc. (NASDAQ:RELY), recently divested a total of $254,375 worth of the company's common stock in two separate transactions. Shares of Remitly traded at $23.52, a 37.54% increase over the past six months. On October 6, 2026, Hug sold 5,500 shares at a weighted average price of $23.18, ranging from $22.68 to $23.56.

The following day, on October 7, 2026, he sold another 5,500 shares at a weighted average price of $23.07, ranging between $22.91 and $23.20. Both transactions were conducted under a Rule 10b5-1 trading plan adopted by Hug on December 11, 2025. Remitly remains profitable, with a P/E ratio of 15.71 and analysts suggesting the stock is undervalued.

Hug directly holds 2,647,889 shares, with an additional 300,000 shares indirectly held by a family trust. Remitly reported strong Q2 2026 earnings, surpassing expectations in both profit and revenue. The company has received positive analyst ratings and increased price targets.