Amir Schlachet Sells 16,666 Shares of Global-e Online (NASDAQ:GLBE) Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 16,666 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $33.34, for a total value of $555,644.44. Following the completion of the transaction, the chief executive officer owned 4,216,724 shares in the company, valued at $140,585,578.16. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, June 1st, Amir Schlachet sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $33.58, for a total value of $279,822.14.
• On Tuesday, May 19th, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $29.00, for a total value of $241,657.00.
• On Thursday, May 7th, Amir Schlachet sold 6,194 shares of Global-e Online stock. The shares were sold at an average price of $32.45, for a total value of $200,995.30.
• On Wednesday, May 6th, Amir Schlachet sold 1,022 shares of Global-e Online stock. The stock was sold at an average price of $31.27, for a total value of $31,957.94.
• On Tuesday, May 5th, Amir Schlachet sold 9,450 shares of Global-e Online stock. The shares were sold at an average price of $31.68, for a total transaction of $299,376.00.
• On Thursday, April 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $33.65, for a total transaction of $560,810.90.
• On Wednesday, April 15th, Amir Schlachet sold 4,332 shares of Global-e Online stock. The stock was sold at an average price of $33.09, for a total transaction of $143,345.88.
• On Wednesday, April 8th, Amir Schlachet sold 4,001 shares of Global-e Online stock. The stock was sold at an average price of $32.26, for a total transaction of $129,072.26.
• On Thursday, April 2nd, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were 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 shares were sold at an average price of $34.45, for a total transaction of $574,143.70.

Global-e Online Stock Performance

Shares of GLBE stock opened at $32.89 on Friday. The firm’s 50 day moving average price is $30.94 and its two-hundred day moving average price is $34.80. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $41.94. The stock has a market cap of $5.58 billion, a PE ratio of 50.60 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The company had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The business’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, sell-side analysts predict that Global-e Online Ltd. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GLBE shares. Piper Sandler restated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. UBS Group cut their price target on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Benchmark restated a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley cut their target price on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.92.

Hedge Funds Weigh In On Global-e Online

Several institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP raised its holdings in Global-e Online by 231.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after buying an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of 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 increased its position in shares of 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. Arohi Asset Management PTE Ltd. raised its holdings in shares of 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 acquiring an additional 1,345,156 shares during the period. Finally, Norges Bank bought a new stake in Global-e Online in the 4th quarter valued at $51,104,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Global-e Online

Here are the key news stories impacting Global-e Online this week:

• Positive Sentiment: Global-e’s board approved a new share repurchase program of up to $500 million, following completion of about 80% of its prior $200 million plan. This could support the stock by reducing share count and signaling confidence in future cash generation. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Neutral Sentiment: The company noted that repurchases depend on regulatory approval in Israel, creditor objections, market conditions, liquidity, and other factors, so the buyback may not be executed as planned. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Negative Sentiment: Recent insider selling from CEO Amir Schlachet, President Nir Debbi, and COO Shahar Tamari may weigh on sentiment, even though the sales were relatively small compared with their overall holdings. Insider sale filing

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.