Global-e Online Ltd. $GLBE Shares Sold by Meitav Investment House Ltd.

Key Points

• Meitav Investment House Ltd. cut its stake in Global-e Online by 81.8% in the first quarter, selling 41,350 shares and leaving it with 9,200 shares worth about $263,000.
• Recent filings show a cluster of insider selling, including CEO Amir Schlachet, COO Shahar Tamari, and President Nir Debbi, which may weigh on near-term sentiment toward GLBE.
• Despite the selling, Wall Street remains broadly constructive: analysts currently rate the stock a Moderate Buy with a consensus target price of $44.33, above the recent trading level of $36.92.

Meitav Investment House Ltd. decreased its position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 81.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,200 shares of the company's stock after selling 41,350 shares during the period. Meitav Investment House Ltd.'s holdings in Global-e Online were worth $263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Global-e Online during the 4th quarter valued at $39,000. IFP Advisors Inc boosted its stake in Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after buying an additional 448 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in 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 period. Tower Research Capital LLC TRC grew its holdings in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock worth $61,000 after acquiring an additional 1,616 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in Global-e Online in the fourth quarter worth about $72,000. 94.60% of the stock is owned by institutional investors.

Global-e Online News Roundup

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

• Negative Sentiment: CEO Amir Schlachet sold 24,999 shares for about $927,000, adding to earlier insider selling in late June and signaling that management has been trimming positions. CEO Amir Schlachet insider sale filing
• Negative Sentiment: COO Shahar Tamari also sold 24,999 shares for about $920,000, reinforcing the recent insider-selling trend and potentially weighing on sentiment toward GLBE. COO Shahar Tamari insider sale filing
• Negative Sentiment: President Nir Debbi sold 8,332 shares earlier in the week, adding another data point to the pattern of executive selling that traders may interpret as a negative near-term signal. President Nir Debbi insider sale filing
• Neutral Sentiment: Despite the insider activity, Global-e Online remains above its key moving averages and still carries a generally constructive analyst backdrop, which may help cushion downside concerns.

Global-e Online Stock Performance

Shares of NASDAQ:GLBE opened at $36.92 on Wednesday. The firm has a 50 day simple moving average of $32.09 and a 200 day simple moving average of $33.99. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94. The company has a market cap of $6.27 billion, a PE ratio of 56.80 and a beta of 1.06.

Wall Street Analysts Forecast Growth

GLBE has been the subject of several research reports. Wall Street Zen lowered shares of Global-e Online from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Truist Financial raised shares of Global-e Online from a "hold" rating to a "buy" rating and increased their target price for the company from $34.00 to $39.00 in a research note on Wednesday, June 10th. Bank of America started coverage on shares of Global-e Online in a report on Tuesday, March 31st. They set a "buy" rating and a $43.00 target price for the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a report on Wednesday, May 13th. Finally, Zacks Research downgraded Global-e Online from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.33.

Insider Activity

In other news, President Nir Debbi sold 8,332 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $35.82, for a total value of $298,452.24. Following the completion of the sale, the president owned 4,534,449 shares of the company's stock, valued at $162,423,963.18. This trade represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Shahar Tamari sold 24,999 shares of Global-e Online stock in a transaction on Monday, July 6th. The shares were sold at an average price of $36.81, for a total value of $920,213.19. Following the transaction, the chief operating officer owned 3,931,686 shares in the company, valued at $144,725,361.66. This represents a 0.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 387,803 shares of company stock worth $13,299,606 over the last quarter. Corporate insiders own 11.60% of the company's stock.

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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