Insider Selling: Global-e Online (NASDAQ:GLBE) COO Sells $129,265.82 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) COO Shahar Tamari sold 4,007 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $32.26, for a total transaction of $129,265.82. Following the completion of the sale, the chief operating officer directly owned 3,820,500 shares in the company, valued at approximately $123,249,330. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shahar Tamari also recently made the following trade(s):

• On Monday, April 6th, Shahar Tamari sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $31.20, for a total transaction of $259,989.60.
• On Wednesday, March 18th, Shahar Tamari sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $33.81, for a total transaction of $563,477.46.

Global-e Online Stock Performance

NASDAQ:GLBE opened at $30.23 on Monday. The firm’s fifty day moving average is $33.13 and its 200-day moving average is $35.92. Global-e Online Ltd. has a 52 week low of $27.80 and a 52 week high of $43.21. The firm has a market cap of $5.13 billion, a P/E ratio of 81.70 and a beta of 1.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GLBE. Wasatch Advisors LP boosted its stake in Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after acquiring an additional 2,392,124 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Global-e Online by 68.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after acquiring an additional 2,387,242 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Global-e Online by 1,539.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock worth $89,213,000 after acquiring an additional 2,131,047 shares in the last quarter. Dragoneer Investment Group LLC raised its holdings in Global-e Online by 18.2% during the third quarter. Dragoneer Investment Group LLC now owns 11,887,078 shares of the company’s stock worth $425,082,000 after buying an additional 1,831,063 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. raised its holdings in Global-e Online by 91.0% during the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock worth $94,680,000 after buying an additional 1,345,156 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Truist Financial reduced their price objective on shares of Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. KeyCorp cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Zacks Research raised shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Finally, Weiss Ratings raised shares of Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.58.

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.