Global-e Online (NASDAQ:GLBE) Now Covered by Bank of America

Bank of America began coverage on shares of Global-e Online (NASDAQ:GLBE) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $43.00 price objective on the stock.

A number of other research analysts have also recently weighed in on GLBE. Morgan Stanley reiterated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Benchmark raised their target price on shares of Global-e Online from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Wall Street Zen raised shares of Global-e Online from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings upgraded shares of Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday. Finally, 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 report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.58.

Global-e Online Stock Performance

NASDAQ GLBE opened at $30.85 on Tuesday. The business’s 50 day moving average price is $34.16 and its 200-day moving average price is $36.24. Global-e Online has a fifty-two week low of $26.64 and a fifty-two week high of $43.21. The company has a market cap of $5.24 billion, a P/E ratio of 83.38 and a beta of 1.24.

Insiders Place Their Bets

In other news, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the completion of the sale, the chief executive officer directly owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Nir Debbi sold 8,332 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $34.51, for a total transaction of $287,537.32. Following the sale, the president directly owned 3,897,506 shares of the company’s stock, valued at $134,502,932.06. This represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,664 shares of company stock worth $1,425,158 over the last quarter. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Several large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its position in shares of Global-e Online by 73.3% during 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 during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Global-e Online in the fourth quarter valued at approximately $39,000. Virtus Advisers LLC purchased a new stake in shares of Global-e Online in the second quarter valued at approximately $47,000. Geneos Wealth Management Inc. grew its stake in Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after purchasing an additional 1,616 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

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.