Global-e Online (NASDAQ:GLBE) CEO Sells $129,072.26 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 4,001 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $32.26, for a total transaction of $129,072.26. Following the transaction, the chief executive officer owned 4,005,548 shares of the company’s stock, valued at $129,218,978.48. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, April 2nd, Amir Schlachet sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $30.94, for a total transaction of $257,823.02.
• On Tuesday, March 17th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70.

Global-e Online Price Performance

Shares of NASDAQ:GLBE opened at $30.23 on Monday. The firm has a market capitalization of $5.13 billion, a PE ratio of 81.70 and a beta of 1.28. Global-e Online Ltd. has a twelve month low of $27.80 and a twelve month high of $43.21. The company has a 50-day moving average price of $33.13 and a two-hundred day moving average price of $35.92.

Hedge Funds Weigh In On Global-e Online

Large investors have recently modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after acquiring an additional 448 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Global-e Online in the fourth quarter valued at approximately $39,000. Geneos Wealth Management Inc. boosted its position in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after acquiring an additional 528 shares during the period. Tower Research Capital LLC TRC lifted its position in 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 valued at $61,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock valued at $72,000 after purchasing an additional 1,376 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. UBS Group cut their price objective on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Wall Street Zen upgraded shares of Global-e Online from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. Benchmark raised their price objective on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Finally, Bank of America assumed coverage on shares of Global-e Online in a research report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.58.

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.