Global-e Online (NASDAQ:GLBE) COO Shahar Tamari Sells 4,946 Shares

Key Points

• Global-e Online COO Shahar Tamari sold 4,946 shares on May 20 at an average price of $30.02, totaling about $148,479. After the sale, he still held more than 4.0 million shares.
• The company reported strong quarterly results, with EPS of $0.27 beating estimates of $0.18 and revenue of $252.09 million, up 32.8% year over year.
• Wall Street remains cautiously optimistic on GLBE, with a consensus rating of “Moderate Buy” and an average price target of $44.17, though some analysts recently trimmed targets or downgraded the stock.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) COO Shahar Tamari sold 4,946 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $30.02, for a total transaction of $148,478.92. Following the completion of the sale, the chief operating officer owned 4,045,595 shares in the company, valued at $121,448,761.90. This represents a 0.12% decrease in their position. The sale 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, May 7th, Shahar Tamari sold 8,333 shares of Global-e Online stock. The stock was 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.
• On Friday, April 17th, Shahar Tamari sold 25,949 shares of Global-e Online stock. The shares were sold at an average price of $34.79, for a total value of $902,765.71.
• On Wednesday, April 15th, Shahar Tamari sold 4,326 shares of Global-e Online stock. The stock was sold at an average price of $33.09, for a total value of $143,147.34.
• On Wednesday, April 8th, Shahar Tamari sold 4,007 shares of Global-e Online stock. The stock was sold at an average price of $32.26, for a total value of $129,265.82.
• On Monday, April 6th, Shahar Tamari sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $31.20, for a total value of $259,989.60.
• On Wednesday, March 18th, Shahar Tamari sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $33.81, for a total value of $563,477.46.

Global-e Online Trading Up 4.8%

NASDAQ:GLBE opened at $29.99 on Thursday. The stock's 50-day moving average is $31.51 and its 200-day moving average is $35.19. Global-e Online Ltd. has a 1-year low of $26.84 and a 1-year high of $41.94. The stock has a market cap of $5.09 billion, a P/E ratio of 46.14 and a beta of 1.18.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business had revenue of $252.09 million during the quarter, compared to analyst estimates of $250.78 million. During the same quarter last year, the business earned ($0.11) EPS. The firm's quarterly revenue was up 32.8% on a year-over-year basis. As a group, equities analysts forecast that Global-e Online Ltd. will post 1.12 EPS for the current year.

Hedge Funds Weigh In On Global-e Online

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of Global-e Online by 90.1% during 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 increased its position in Global-e Online by 4.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company's stock valued at $72,833,000 after buying an additional 91,384 shares in the last quarter. Royal Bank of Canada raised its stake in Global-e Online by 2.8% during the 1st quarter. Royal Bank of Canada now owns 37,100 shares of the company's stock worth $1,145,000 after buying an additional 996 shares during the period. Empowered Funds LLC acquired a new position in Global-e Online during the 1st quarter worth approximately $1,144,000. Finally, Lazard Asset Management LLC boosted its holdings in Global-e Online by 4.7% in the first quarter. Lazard Asset Management LLC now owns 98,748 shares of the company's stock worth $3,046,000 after acquiring an additional 4,428 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLBE has been the topic of several recent research reports. Wall Street Zen downgraded Global-e Online from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Morgan Stanley reduced their target price on Global-e Online from $43.00 to $37.00 and set an "overweight" rating on the stock in a report on Thursday, May 14th. Benchmark raised their price target on shares of Global-e Online from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Raymond James Financial restated an "outperform" rating and issued a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, Truist Financial reduced their price objective on shares of Global-e Online from $42.00 to $37.00 and set a "hold" rating on the stock in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.17.

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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