Global-e Online (NASDAQ:GLBE) COO Sells $563,477.46 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) COO Shahar Tamari sold 16,666 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total transaction of $563,477.46. Following the completion of the sale, the chief operating officer owned 3,419,745 shares in the company, valued at approximately $115,621,578.45. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Global-e Online Trading Down 4.9%

NASDAQ:GLBE opened at $32.34 on Friday. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21. The company has a 50-day moving average of $35.26 and a 200-day moving average of $36.49. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 87.41 and a beta of 1.24.

Institutional Investors Weigh In On Global-e Online

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

Analysts Set New Price Targets

Several research firms have issued reports on GLBE. Benchmark lifted their price target on shares of Global-e Online from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. KeyCorp cut their target price on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Needham & Company LLC upped their target price on Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Global-e Online currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.80.

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.