Global-e Online (NASDAQ:GLBE) CEO Sells $299,376.00 in Stock

Key Points

• CEO Amir Schlachet sold 9,450 shares on May 5 at $31.68 for $299,376, trimming his stake by 0.24% to 3,975,100 shares; he also made several other insider sales in March–April totaling larger amounts.
• GLBE shares were trading down 1.2% at $31.23 (market cap ~$5.3B, P/E 84.4), while analysts maintain an overall Buy consensus with an average price target of $46.77.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 9,450 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $31.68, for a total transaction of $299,376.00. Following the completion of the sale, the chief executive officer owned 3,975,100 shares in the company, valued at $125,931,168. The trade was a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, April 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were 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 shares were 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 value of $129,072.26.
• On Thursday, April 2nd, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $30.94, for a total value of $257,823.02.
• On Tuesday, March 17th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $34.45, for a total value of $574,143.70.

Global-e Online Stock Down 1.2%

Shares of GLBE traded down $0.38 during mid-day trading on Wednesday, reaching $31.23. The company had a trading volume of 979,831 shares, compared to its average volume of 1,462,774. The stock has a market capitalization of $5.30 billion, a P/E ratio of 84.40 and a beta of 1.18. Global-e Online Ltd. has a 52-week low of $27.80 and a 52-week high of $43.21. The stock has a 50 day moving average of $32.76 and a two-hundred day moving average of $35.58.

Analyst Upgrades and Downgrades

GLBE has been the subject of several recent research reports. Weiss Ratings raised shares of Global-e Online from a "sell (d-)" rating to a "hold (c-)" rating in a report on Friday, March 27th. UBS Group lowered their price target on shares of Global-e Online from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. Wall Street Zen raised shares of Global-e Online from a "hold" rating to a "buy" rating in a report on Sunday, March 29th. Morgan Stanley reiterated an "overweight" rating on shares of Global-e Online in a research report on Thursday, February 19th. Finally, KeyCorp lowered their target price on shares of 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Global-e Online currently has an average rating of "Buy" and a consensus price target of $46.77.

Institutional Investors Weigh In On Global-e Online

Institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its position in Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company's stock worth $114,847,000 after acquiring an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Global-e Online by 68.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company's stock worth $230,842,000 after purchasing an additional 2,387,242 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Global-e Online by 1,539.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company's stock worth $89,213,000 after purchasing an additional 2,131,047 shares in the last quarter. Arohi Asset Management PTE Ltd. raised its position in shares of Global-e Online by 91.0% during the 2nd quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company's stock worth $94,680,000 after purchasing an additional 1,345,156 shares during the last quarter. Finally, Norges Bank purchased a new position in Global-e Online in the 4th quarter valued at about $51,104,000. Institutional investors and hedge funds own 94.60% 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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