Global-e Online (NASDAQ:GLBE) COO Sells 24,999 Shares of Stock

Key Points

• Global-e Online COO Shahar Tamari sold 24,999 shares at an average price of $41.63, generating approximately $1.04 million. He retained 3.86 million shares valued at about $160.6 million, following a series of recent stock sales.
• GLBE shares traded at $40.45, with a market capitalization of approximately $6.86 billion. The company recently reported quarterly earnings of $0.37 per share on revenue of $299 million.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $47.23; institutional investors own 94.6% of the company.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) COO Shahar Tamari sold 24,999 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $41.63, for a total transaction of $1,040,708.37. Following the transaction, the chief operating officer owned 3,856,689 shares of the company's stock, valued at $160,553,963.07. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, August 5th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $41.59, for a total value of $1,039,708.41.
• On Monday, July 6th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $36.81, for a total value of $920,213.19.
• 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 value of $535,205.55.
• On Friday, June 26th, Shahar Tamari sold 28,623 shares of Global-e Online stock. The shares were sold at an average price of $36.02, for a total transaction of $1,031,000.46.
• 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 value of $68,596.10.
• On Wednesday, June 17th, Shahar Tamari sold 14,556 shares of Global-e Online stock. The stock was sold at an average price of $32.23, for a total transaction of $469,139.88.
• On Wednesday, June 3rd, Shahar Tamari sold 8,792 shares of Global-e Online stock. The shares were sold at an average price of $31.55, for a total transaction 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 transaction 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.

Global-e Online Trading Down 0.3%

GLBE stock traded down $0.10 during mid-day trading on Monday, reaching $40.45. The company's stock had a trading volume of 88,380 shares, compared to its average volume of 1,567,882. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $43.99. The stock has a market cap of $6.86 billion, a PE ratio of 47.15 and a beta of 1.03. The company's 50 day moving average is $37.66 and its two-hundred day moving average is $34.13.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. The business had revenue of $299.00 million during the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. On average, analysts forecast that Global-e Online Ltd. will post 1.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Zacks Research cut shares of Global-e Online from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $48.00 target price on shares of Global-e Online in a research note on Tuesday, August 11th. Jefferies Financial Group reiterated a "buy" rating and set a $48.00 target price on shares of Global-e Online in a report on Wednesday, August 12th. Loop Capital set a $49.00 price target on shares of Global-e Online in a research note on Wednesday, August 12th. Finally, BMO Capital Markets upped their price objective on Global-e Online from $42.00 to $46.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.23.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of Global-e Online by 105.3% in the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company's stock valued at $22,727,000 after acquiring an additional 296,466 shares during the last quarter. Vitruvian Partners LLP boosted its position in Global-e Online by 21.9% during the fourth quarter. Vitruvian Partners LLP now owns 210,209 shares of the company's stock valued at $8,263,000 after purchasing an additional 37,767 shares during the last quarter. Empowered Funds LLC bought a new position in Global-e Online in the first quarter valued at approximately $1,144,000. Handelsbanken Fonder AB increased its position in shares of Global-e Online by 51.7% during the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company's stock worth $4,484,000 after purchasing an additional 38,869 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in shares of Global-e Online by 28.1% during the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company's stock worth $287,397,000 after purchasing an additional 1,816,606 shares during the last quarter. Hedge funds and other 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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