Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells $574,143.70 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction that occurred 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 $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Global-e Online Stock Performance

Shares of GLBE stock opened at $32.34 on Friday. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 87.41 and a beta of 1.24. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $43.21. The company has a 50 day moving average price of $35.26 and a 200 day moving average price of $36.46.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLBE. Truist Financial reduced their target price on Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Needham & Company LLC raised their price objective on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. KeyCorp reduced their price objective on 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. Bank of America reiterated a “buy” rating on shares of Global-e Online in a report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.80.

Institutional Investors Weigh In On Global-e Online

Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after buying an additional 448 shares in the last quarter. Main Management ETF Advisors LLC increased its position in shares of Global-e Online by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 30,053 shares of the company’s stock worth $1,008,000 after acquiring an additional 492 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Global-e Online by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 116,092 shares of the company’s stock worth $4,564,000 after acquiring an additional 533 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Global-e Online by 28.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock valued at $106,000 after purchasing an additional 649 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

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.