Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells $4,220,000.00 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 100,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the transaction, the chief executive officer owned 3,965,422 shares in the company, valued at approximately $167,340,808.40. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Amir Schlachet also recently made the following trade(s):

• On Wednesday, August 5th, Amir Schlachet sold 1,308 shares of Global-e Online stock. The stock was sold at an average price of $42.09, for a total transaction of $55,053.72.
• On Tuesday, August 4th, Amir Schlachet sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $41.23, for a total value of $1,030,708.77.
• On Friday, June 26th, Amir Schlachet sold 58,331 shares of Global-e Online stock. The stock was sold at an average price of $36.21, for a total value of $2,112,165.51.
• On Thursday, July 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $37.09, for a total value of $927,212.91.
• On Tuesday, June 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $32.18, for a total value of $536,311.88.
• On Monday, June 1st, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $33.58, for a total value of $279,822.14.
• On Tuesday, June 2nd, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was sold at an average price of $33.34, for a total value of $555,644.44.
• On Tuesday, May 19th, Amir Schlachet sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $29.00, for a total value of $241,657.00.

Global-e Online Stock Performance

GLBE stock traded down $1.17 during trading on Monday, reaching $41.15. 2,665,149 shares of the company traded hands, compared to its average volume of 1,573,696. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $42.51. The business has a 50 day simple moving average of $35.96 and a 200 day simple moving average of $33.84. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 63.31 and a beta of 1.03.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLBE. Caitong International Asset Management Co. Ltd purchased a new stake in Global-e Online in the fourth quarter valued at about $39,000. IFP Advisors Inc boosted its holdings in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after acquiring an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Global-e Online during the fourth quarter valued at about $72,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Raymond James Financial reiterated an “outperform” rating and set a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 13th. Jefferies Financial Group reissued a “buy” rating and set a $40.00 target price on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

About Global-e Online

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.