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

Key Points

• Global-e Online CEO Amir Schlachet sold 16,666 shares on June 16 at an average price of $32.18, a transaction worth about $536,312. After the sale, he still held roughly 4.2 million shares.
• The company recently posted strong quarterly results, reporting EPS of $0.27 versus the $0.18 consensus estimate and revenue of $252.09 million, up 32.8% year over year.
• Analysts remain broadly constructive on GLBE, with a consensus rating of “Moderate Buy” and an average price target of $44.33, despite some recent rating downgrades and target cuts.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $32.18, for a total transaction of $536,311.88. Following the sale, the chief executive officer directly owned 4,200,058 shares of the company's stock, valued at approximately $135,157,866.44. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 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 transaction 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 transaction of $241,657.00.
• On Thursday, May 7th, Amir Schlachet sold 6,194 shares of Global-e Online stock. The stock was sold at an average price of $32.45, for a total transaction 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 transaction of $31,957.94.
• On Tuesday, May 5th, Amir Schlachet sold 9,450 shares of Global-e Online stock. The stock was 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 stock was 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 stock was sold at an average price of $30.94, for a total transaction of $257,823.02.

Global-e Online Price Performance

Shares of NASDAQ:GLBE opened at $32.28 on Wednesday. The company's fifty day moving average price is $31.22 and its 200 day moving average price is $34.54. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $41.94. The firm has a market capitalization of $5.48 billion, a P/E ratio of 49.66 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, topping 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 firm had revenue of $252.09 million for the quarter, compared to analyst estimates of $250.78 million. During the same period last year, the business earned ($0.11) EPS. Global-e Online's revenue for the quarter was up 32.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Global-e Online Ltd. will post 1.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GLBE shares. Jefferies Financial Group reiterated a "buy" rating and set a $40.00 price target on shares of Global-e Online in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Global-e Online from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Zacks Research lowered shares of Global-e Online from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. Morgan Stanley cut their price target on shares of Global-e Online from $43.00 to $37.00 and set an "overweight" rating on the stock in a research note on Thursday, May 14th. Finally, BMO Capital Markets started coverage on shares of Global-e Online in a research note on Tuesday, April 21st. They issued an "outperform" rating and a $42.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $44.33.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP increased its stake in Global-e Online by 34.0% in the first quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company's stock valued at $199,247,000 after purchasing an additional 1,637,482 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company's stock valued at $230,842,000 after purchasing an additional 2,387,242 shares during the period. Contour Asset Management LLC increased its stake in Global-e Online by 4.6% in the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company's stock valued at $190,342,000 after purchasing an additional 211,034 shares during the period. Arohi Asset Management PTE Ltd. increased its stake in Global-e Online by 0.6% in the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company's stock valued at $148,604,000 after purchasing an additional 23,213 shares during the period. Finally, Spyglass Capital Management LLC increased its stake in Global-e Online by 63.0% in the third quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company's stock valued at $96,665,000 after purchasing an additional 1,044,960 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

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.

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