Global-e Online (NASDAQ:GLBE) COO Sells $1,031,000.46 in Stock

Key Points

• Global-e Online COO Shahar Tamari sold 28,623 shares on June 26 for about $1.03 million at an average price of $36.02. After the sale, he still held nearly 4.0 million shares.
• Tamari has been actively selling shares recently, with multiple transactions reported throughout April and June, including several sales in the tens of thousands of shares.
• The company’s recent fundamentals remain solid: Global-e Online beat quarterly EPS and revenue estimates, posted 32.8% year-over-year revenue growth, and holds a “Moderate Buy” analyst consensus with a $44.33 average price target.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) COO Shahar Tamari sold 28,623 shares of the business's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46. Following the sale, the chief operating officer owned 3,956,685 shares of the company's stock, valued at approximately $142,519,793.70. This represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shahar Tamari also recently made the following trade(s):

• On Thursday, June 25th, Shahar Tamari sold 15,235 shares of Global-e Online stock. The shares were sold at an average price of $35.13, for a total transaction of $535,205.55.
• On Thursday, June 18th, Shahar Tamari sold 2,110 shares of Global-e Online stock. The shares were sold at an average price of $32.51, for a total transaction of $68,596.10.
• On Wednesday, June 17th, Shahar Tamari sold 14,556 shares of Global-e Online stock. The shares were sold at an average price of $32.23, for a total value of $469,139.88.
• On Wednesday, June 3rd, Shahar Tamari sold 8,792 shares of Global-e Online stock. The stock was sold at an average price of $31.55, for a total value of $277,387.60.
• On Thursday, June 4th, Shahar Tamari sold 7,874 shares of Global-e Online stock. The shares were sold at an average price of $33.09, for a total value of $260,550.66.
• On Monday, June 1st, Shahar Tamari sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $33.59, for a total value of $279,905.47.
• On Thursday, May 21st, Shahar Tamari sold 3,387 shares of Global-e Online stock. The stock was sold at an average price of $30.26, for a total transaction of $102,490.62.
• On Wednesday, May 20th, Shahar Tamari sold 4,946 shares of Global-e Online stock. The shares were sold at an average price of $30.02, for a total transaction of $148,478.92.
• On Thursday, May 7th, Shahar Tamari sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $32.45, for a total transaction of $270,405.85.
• On Monday, April 20th, Shahar Tamari sold 5,190 shares of Global-e Online stock. The shares were sold at an average price of $33.06, for a total value of $171,581.40.

Global-e Online Stock Performance

Shares of Global-e Online stock opened at $36.41 on Monday. The business's fifty day simple moving average is $31.57 and its 200 day simple moving average is $34.14. 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 $6.18 billion, a P/E ratio of 56.02 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.09. The company had revenue of $252.09 million for the quarter, compared to the consensus estimate of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The firm's quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. Analysts predict that Global-e Online Ltd. will post 1.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GLBE shares. Bank of America started coverage on Global-e Online in a report on Tuesday, March 31st. They issued a "buy" rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an "accumulate" rating in a research note on Wednesday, May 27th. Wall Street Zen cut shares of Global-e Online from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. UBS Group cut their price objective on shares of Global-e Online from $52.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, March 31st. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $40.00 price objective on shares of Global-e Online in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $44.33.

Institutional Trading of Global-e Online

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Global-e Online by 90.1% in the 1st quarter. Bank of America Corp DE now owns 330,418 shares of the company's stock worth $10,193,000 after purchasing an additional 156,641 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Global-e Online by 4.0% in the first quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company's stock worth $72,833,000 after buying an additional 91,384 shares in the last quarter. Royal Bank of Canada boosted its stake in Global-e Online by 2.8% during the first quarter. Royal Bank of Canada now owns 37,100 shares of the company's stock valued at $1,145,000 after buying an additional 996 shares during the period. Empowered Funds LLC purchased a new position in Global-e Online during the first quarter worth about $1,144,000. Finally, Lazard Asset Management LLC grew its position in Global-e Online by 4.7% during the first quarter. Lazard Asset Management LLC now owns 98,748 shares of the company's stock worth $3,046,000 after buying an additional 4,428 shares in the last quarter. Institutional investors own 94.60% 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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