Global-e Online (NASDAQ:GLBE) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Global-e Online from “buy” to “hold,” even though the broader analyst view remains positive. The stock still carries a consensus “Buy” rating with a target price of $46.77.
• Shares fell 8.7% to open at $29.80, near the lower end of its 12-month range of $27.80 to $43.21. The company’s market cap is about $5.06 billion.
• Insider selling continued, with President Nir Debbi and COO Shahar Tamari both selling shares recently. Over the last three months, insiders have sold 153,181 shares worth about $5.1 million.

Global-e Online (NASDAQ:GLBE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Several other research analysts also recently commented on the company. Piper Sandler reiterated an "overweight" rating on shares of Global-e Online in a research note on Thursday, February 19th. KeyCorp reduced their target price on Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Benchmark lifted their target price on Global-e Online from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Bank of America began coverage on Global-e Online in a research note on Tuesday, March 31st. They set a "buy" rating and a $43.00 target price for the company. Finally, UBS Group reduced their price target on Global-e Online from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Global-e Online currently has a consensus rating of "Buy" and a consensus target price of $46.77.

Global-e Online Trading Down 8.7%

Shares of NASDAQ GLBE opened at $29.80 on Friday. Global-e Online has a 12 month low of $27.80 and a 12 month high of $43.21. The stock has a 50 day moving average of $32.66 and a 200-day moving average of $35.57. The company has a market capitalization of $5.06 billion, a P/E ratio of 80.54 and a beta of 1.18.

Insider Activity

In other news, President Nir Debbi sold 4,166 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $32.57, for a total transaction of $135,686.62. Following the completion of the sale, the president directly owned 4,290,693 shares in the company, valued at approximately $139,747,871.01. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Shahar Tamari sold 5,190 shares of the company's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $33.06, for a total value of $171,581.40. Following the sale, the chief operating officer owned 3,785,035 shares of the company's stock, valued at approximately $125,133,257.10. The trade was a 0.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 153,181 shares of company stock worth $5,114,716. 11.60% of the stock is currently owned by company insiders.

Institutional Trading of Global-e Online

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc lifted its position in shares of Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after acquiring an additional 448 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Global-e Online during the 4th quarter worth $39,000. Geneos Wealth Management Inc. raised its holdings in shares of Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock worth $47,000 after buying an additional 528 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock worth $61,000 after buying an additional 1,616 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Global-e Online by 237.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company's stock worth $72,000 after buying an additional 1,376 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

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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