Global-e Online (NASDAQ:GLBE) CFO Sells $464,454.00 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) CFO Ofer Koren sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $38.07, for a total value of $464,454.00. Following the completion of the sale, the chief financial officer owned 153,189 shares in the company, valued at $5,831,905.23. The trade was a 7.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Ofer Koren also recently made the following trade(s):

• On Tuesday, September 22nd, Ofer Koren sold 50,000 shares of Global-e Online stock. The stock was sold at an average price of $41.23, for a total transaction of $2,061,500.00.
• On Monday, September 14th, Ofer Koren sold 300 shares of Global-e Online stock. The shares were sold at an average price of $38.00, for a total transaction of $11,400.00.
• On Tuesday, September 8th, Ofer Koren sold 12,500 shares of Global-e Online stock. The shares were sold at an average price of $36.68, for a total transaction of $458,500.00.

Global-e Online Stock Down 0.9%

Shares of GLBE stock opened at $40.88 on Friday. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $43.99. The company’s fifty day simple moving average is $39.10 and its 200-day simple moving average is $34.89. The firm has a market cap of $6.94 billion, a PE ratio of 47.54 and a beta of 1.00.

Global-e Online (NASDAQ:GLBE) last released its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The business had revenue of $299.00 million during the quarter. On average, equities analysts predict that Global-e Online Ltd. will post 1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Global-e Online

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Wellington Management Group LLP lifted its position in shares of Global-e Online by 3,232.4% during the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock valued at $72,968,000 after purchasing an additional 2,037,962 shares in the last quarter. Wasatch Advisors LP grew its position in Global-e Online by 28.1% in the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after purchasing an additional 1,816,606 shares in the last quarter. Norges Bank purchased a new stake in Global-e Online in the 4th quarter valued at about $51,104,000. Bienville Capital Management LLC purchased a new stake in Global-e Online in the 2nd quarter valued at about $13,021,000. Finally, Legal & General Group Plc lifted its position in shares of Global-e Online by 105.3% during the 4th quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock worth $22,727,000 after buying an additional 296,466 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings raised Global-e Online from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Morgan Stanley raised their price target on Global-e Online from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Loop Capital set a $49.00 price target on Global-e Online in a research report on Wednesday, August 12th. Finally, Piper Sandler reiterated an “overweight” rating and set a $48.00 price objective on shares of Global-e Online in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.69.

About Global-e Online

Global-e Online Ltd. (NASDAQ: GLBE) provides a software platform that enables merchants and brands to sell products internationally through localized e-commerce experiences. Its technology is designed to help businesses manage the operational and regulatory complexities of cross-border online commerce while presenting shoppers with familiar purchasing experiences in their local markets.

The company’s services include localized websites and checkout experiences, support for multiple currencies and payment methods, international shipping options, calculation and collection of duties and taxes, fraud prevention, returns management, and analytics.