Insider Selling: Global-e Online (NASDAQ:GLBE) President Sells $580,509.42 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) President Nir Debbi sold 14,582 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $39.81, for a total value of $580,509.42. Following the transaction, the president owned 4,357,375 shares of the company’s stock, valued at $173,467,098.75. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nir Debbi also recently made the following trade(s):

• On Thursday, October 1st, Nir Debbi sold 14,582 shares of Global-e Online stock. The stock was sold at an average price of $40.18, for a total transaction of $585,904.76.
• On Wednesday, September 16th, Nir Debbi sold 8,332 shares of Global-e Online stock. The shares were sold at an average price of $36.89, for a total value of $307,367.48.
• On Monday, September 21st, Nir Debbi sold 12,272 shares of Global-e Online stock. The stock was sold at an average price of $39.56, for a total value of $485,480.32.
• On Friday, September 4th, Nir Debbi sold 228 shares of Global-e Online stock. The stock was sold at an average price of $39.21, for a total value of $8,939.88.
• On Tuesday, September 1st, Nir Debbi sold 8,332 shares of Global-e Online stock. The stock was sold at an average price of $37.23, for a total value of $310,200.36.
• On Monday, August 3rd, Nir Debbi sold 14,582 shares of Global-e Online stock. The shares were sold at an average price of $40.11, for a total value of $584,884.02.

Global-e Online Stock Performance

Shares of GLBE opened at $41.14 on Thursday. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $43.99. The stock has a market capitalization of $6.98 billion, a PE ratio of 47.84 and a beta of 0.98. The stock has a 50-day simple moving average of $39.36 and a 200-day simple moving average of $35.84.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. The business had revenue of $299.00 million during the quarter. Analysts predict that Global-e Online Ltd. will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Global-e Online

Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Wellington Management Group LLP lifted its stake in Global-e Online by 3,232.4% during the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock worth $72,968,000 after purchasing an additional 2,037,962 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Global-e Online by 28.1% in the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock valued at $287,397,000 after purchasing an additional 1,816,606 shares in the last quarter. Bienville Capital Management LLC acquired a new position in Global-e Online in the second quarter valued at approximately $13,021,000. Renaissance Technologies LLC purchased a new position in Global-e Online in the first quarter valued at approximately $8,512,000. Finally, Bronte Capital Management Pty Ltd. purchased a new position in Global-e Online in the first quarter valued at approximately $6,574,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GLBE shares. Citigroup reiterated a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Global-e Online from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 13th. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Global-e Online in a research report on Tuesday, August 11th. Needham & Company LLC reiterated a “buy” rating and set a $47.00 target price on shares of Global-e Online in a research note on Tuesday, September 1st. Finally, Raymond James Financial reiterated an “outperform” rating and set a $48.00 target price on shares of Global-e Online in a research note on Thursday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.

The company’s platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.

Founded in 2013, Global-e serves merchants and shoppers across international markets.