Y.D. More Investments Ltd Sells 74,050 Shares of Global-e Online Ltd. $GLBE

Key Points

• Y.D. More Investments Ltd cut its stake in Global-e Online by 89.7% in the first quarter, selling 74,050 shares and leaving it with 8,500 shares worth about $262,000.
• Global-e Online shares were up 0.5% to $38.68, with the stock trading above both its 50-day and 200-day moving averages and carrying a market cap of about $6.57 billion.
• Analysts remain broadly constructive on GLBE, with a consensus rating of Moderate Buy and an average price target of $44.33, even though some recent insider sales were reported.

Y.D. More Investments Ltd lessened its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 89.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,500 shares of the company's stock after selling 74,050 shares during the quarter. Y.D. More Investments Ltd's holdings in Global-e Online were worth $262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GLBE. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online in the 4th quarter worth approximately $39,000. IFP Advisors Inc raised 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 during the last quarter. Geneos Wealth Management Inc. raised its stake 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 valued at $47,000 after buying an additional 528 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Global-e Online by 780.7% in 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 in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Global-e Online in the fourth quarter worth $72,000. Institutional investors own 94.60% of the company's stock.

Global-e Online Trading Up 0.5%

GLBE stock opened at $38.68 on Tuesday. The stock's 50 day simple moving average is $32.57 and its 200 day simple moving average is $33.92. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $41.94. The stock has a market capitalization of $6.57 billion, a PE ratio of 59.51 and a beta of 1.06.

Analysts Set New Price Targets

GLBE has been the topic of a number of recent research reports. BMO Capital Markets started coverage on Global-e Online in a research note on Tuesday, April 21st. They issued an "outperform" rating and a $42.00 target price on the stock. Bank of America assumed coverage on shares of Global-e Online in a research note on Tuesday, March 31st. They issued a "buy" rating and a $43.00 price target on the stock. Morgan Stanley cut their price objective on shares of 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. Truist Financial raised shares of Global-e Online from a "hold" rating to a "buy" rating and increased their price objective for the company from $34.00 to $39.00 in a research report on Wednesday, June 10th. Finally, Weiss Ratings lowered shares of Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.33.

Insider Buying and Selling at Global-e Online

In related news, COO Shahar Tamari sold 28,623 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the sale, the chief operating officer directly owned 3,956,685 shares of the company's stock, valued at $142,519,793.70. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amir Schlachet sold 58,331 shares of Global-e Online stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $36.21, for a total value of $2,112,165.51. Following the completion of the sale, the chief executive officer owned 4,141,727 shares of the company's stock, valued at $149,971,934.67. The trade was a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 387,953 shares of company stock valued at $13,305,459 in the last 90 days. Company insiders own 11.60% of the company's stock.

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.

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