Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells $55,053.72 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 1,308 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $42.09, for a total value of $55,053.72. Following the completion of the sale, the chief executive officer owned 4,065,422 shares in the company, valued at $171,113,611.98. This represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, August 4th, Amir Schlachet sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $41.23, for a total transaction of $1,030,708.77.
• On Friday, June 26th, Amir Schlachet sold 58,331 shares of Global-e Online stock. The stock was sold at an average price of $36.21, for a total value of $2,112,165.51.
• On Thursday, July 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $37.09, for a total value of $927,212.91.
• On Tuesday, June 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $32.18, for a total transaction of $536,311.88.
• 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 transaction of $279,822.14.
• On Tuesday, June 2nd, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was sold at an average price of $33.34, for a total value of $555,644.44.
• On Tuesday, May 19th, Amir Schlachet sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $29.00, for a total value of $241,657.00.

Global-e Online Price Performance

GLBE traded down $0.95 during trading on Thursday, hitting $40.62. 484,029 shares of the stock traded hands, compared to its average volume of 1,563,601. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $42.38. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 62.53 and a beta of 1.03. The business has a 50 day moving average price of $35.50 and a 200 day moving average price of $33.78.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in Global-e Online by 87.4% during the 1st quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock worth $2,684,000 after acquiring an additional 35,120 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Global-e Online by 17.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock valued at $1,948,000 after purchasing an additional 8,239 shares during the period. Geneos Wealth Management Inc. grew its holdings in Global-e Online by 67.2% in the 1st 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. Arrowstreet Capital Limited Partnership purchased a new position in Global-e Online during the 2nd quarter valued at about $5,428,000. Finally, Brown Advisory Inc. bought a new position in shares of Global-e Online during the second quarter valued at approximately $726,000. Institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GLBE. Deutsche Bank Aktiengesellschaft raised Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Piper Sandler reissued an “overweight” rating and set a $48.00 target price on shares of Global-e Online in a research note on Wednesday, July 29th. Morgan Stanley cut their target price on Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Finally, BMO Capital Markets upped their price objective on shares of Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

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.