Global-e Online (NASDAQ:GLBE) President Sells $287,537.32 in Stock

Key Points

• President Nir Debbi sold 8,332 shares on March 16 at an average price of $34.51 for $287,537.32, reducing his holding by 0.21% to 3,897,506 shares valued at about $134.5 million.
• Shares traded down about 1.4% to $33.42 mid-day with light volume (54,518 vs. average 1.64M); the stock has a 52-week range of $26.64–$43.21, a market cap of $5.67 billion and a P/E of 90.26.
• Analysts are largely positive — the consensus rating is “Moderate Buy” with an average target price of $47.80 and the majority of coverage at Buy/Strong Buy.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) President Nir Debbi sold 8,332 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $34.51, for a total value of $287,537.32. Following the sale, the president owned 3,897,506 shares in the company, valued at $134,502,932.06. The trade was a 0.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Global-e Online Stock Down 1.4%

Shares of GLBE traded down $0.47 during mid-day trading on Wednesday, hitting $33.42. The stock had a trading volume of 54,518 shares, compared to its average volume of 1,642,605. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $43.21. The company has a market cap of $5.67 billion, a PE ratio of 90.26 and a beta of 1.24. The company's fifty day simple moving average is $35.69 and its two-hundred day simple moving average is $36.51.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GLBE shares. Benchmark increased their price objective on shares of 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 restated a "buy" rating on shares of Global-e Online in a research note on Wednesday, February 18th. Needham & Company LLC upped their target price on Global-e Online from $40.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, December 4th. Truist Financial dropped their price target on Global-e Online from $43.00 to $42.00 and set a "hold" rating on the stock in a research report on Thursday, February 26th. Finally, Zacks Research raised Global-e Online from a "hold" rating to a "strong-buy" rating in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $47.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLBE. Royal Bank of Canada raised its stake in shares of Global-e Online by 87.4% during the first quarter. Royal Bank of Canada now owns 75,286 shares of the company's stock valued at $2,684,000 after purchasing an additional 35,120 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Global-e Online by 17.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company's stock worth $1,948,000 after purchasing an additional 8,239 shares during the period. Geneos Wealth Management Inc. grew its position in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock valued at $47,000 after buying an additional 528 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Global-e Online in the 2nd quarter valued at about $610,000. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in Global-e Online by 32.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 23,904 shares of the company's stock valued at $802,000 after buying an additional 5,882 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

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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