Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells 16,666 Shares of Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 16,666 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total value of $574,143.70. Following the transaction, the chief executive officer owned 3,562,787 shares of the company’s stock, valued at $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Global-e Online Stock Down 1.4%

Global-e Online stock traded down $0.47 during mid-day trading on Wednesday, reaching $33.42. 54,518 shares of the company’s stock traded hands, compared to its average volume of 1,642,605. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $43.21. The stock has a 50 day moving average of $35.69 and a two-hundred day moving average of $36.51. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 90.26 and a beta of 1.24.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Morgan Stanley restated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Truist Financial cut their target price on Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. Finally, KeyCorp decreased their price target on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.80.

Institutional Investors Weigh In On Global-e Online

Hedge funds and other institutional investors have recently modified their holdings of the business. Vitruvian Partners LLP boosted its position in Global-e Online by 23.1% during the 3rd quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock valued at $6,167,000 after acquiring an additional 32,405 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of Global-e Online by 16.1% during the 3rd quarter. Penserra Capital Management LLC now owns 127,667 shares of the company’s stock worth $4,564,000 after purchasing an additional 17,676 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Global-e Online by 50.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the company’s stock valued at $27,714,000 after purchasing an additional 260,000 shares in the last quarter. Nordea Investment Management AB purchased a new position in Global-e Online in the third quarter valued at about $7,838,000. Finally, Brown Capital Management LLC raised its holdings in Global-e Online by 10.0% in the third quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company’s stock worth $85,461,000 after purchasing an additional 216,304 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.