Global-e Online (NASDAQ:GLBE) CEO Sells 24,999 Shares

Key Points

• Global-e Online CEO Amir Schlachet sold 24,999 shares at an average price of $38.24, generating approximately $956,000. He retains 3.72 million shares, and the sale reduced his direct ownership by 0.67%.
• The CEO has made several additional stock sales recently, including more than 300,000 shares sold in August at prices around $42 per share.
• GLBE shares traded near $38.18, while analysts maintain a “Moderate Buy” consensus with an average price target of $47.69. The company reported quarterly revenue of $299 million and earnings of $0.37 per share.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 24,999 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $38.24, for a total transaction of $955,961.76. Following the completion of the sale, the chief executive officer directly owned 3,716,732 shares in the company, valued at $142,127,831.68. This represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Amir Schlachet also recently made the following trade(s):

• On Thursday, August 13th, Amir Schlachet sold 100,000 shares of Global-e Online stock. The stock was sold at an average price of $42.10, for a total transaction of $4,210,000.00.
• On Friday, August 14th, Amir Schlachet sold 81,556 shares of Global-e Online stock. The stock was sold at an average price of $42.30, for a total transaction of $3,449,818.80.
• On Wednesday, August 12th, Amir Schlachet sold 16,814 shares of Global-e Online stock. The shares were sold at an average price of $42.41, for a total transaction of $713,081.74.
• On Monday, August 10th, Amir Schlachet sold 322 shares of Global-e Online stock. The shares were sold at an average price of $42.07, for a total transaction of $13,546.54.
• On Friday, August 7th, Amir Schlachet sold 100,000 shares of Global-e Online stock. The shares were sold at an average price of $42.20, for a total transaction of $4,220,000.00.
• On Wednesday, August 5th, Amir Schlachet sold 1,308 shares of Global-e Online stock. The stock was sold at an average price of $42.09, for a total value of $55,053.72.
• On Tuesday, August 4th, Amir Schlachet sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $41.23, for a total value of $1,030,708.77.
• On Friday, June 26th, Amir Schlachet sold 58,331 shares of Global-e Online stock. The stock was sold at an average price of $36.21, for a total value of $2,112,165.51.
• On Thursday, July 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $37.09, for a total value of $927,212.91.
• On Tuesday, June 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $32.18, for a total value of $536,311.88.

Global-e Online Price Performance

GLBE stock traded down $0.62 during trading on Thursday, reaching $38.18. 616,188 shares of the stock traded hands, compared to its average volume of 1,551,072. The firm has a market capitalization of $6.48 billion, a PE ratio of 44.43 and a beta of 1.00. The business's 50 day moving average price is $38.69 and its 200-day moving average price is $34.46. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $43.99.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%.The company had revenue of $299.00 million for the quarter. On average, equities research analysts predict that Global-e Online Ltd. will post 1.32 earnings per share for the current year.

Institutional Trading of Global-e Online

Large investors have recently bought and sold shares of the company. IFP Advisors Inc lifted its position in shares of Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock worth $38,000 after purchasing an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Global-e Online in the fourth quarter valued at $39,000. Geneos Wealth Management Inc. grew its holdings in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock valued at $47,000 after purchasing an additional 528 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in 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 valued at $61,000 after purchasing an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Global-e Online during the 4th quarter worth $72,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GLBE. Needham & Company LLC reaffirmed a "buy" rating and set a $47.00 price target on shares of Global-e Online in a research report on Tuesday. The Goldman Sachs Group reissued a "buy" rating on shares of Global-e Online in a research report on Wednesday, August 12th. BMO Capital Markets raised their target price on shares of Global-e Online from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an "accumulate" rating in a report on Wednesday, May 27th. Finally, Loop Capital set a $49.00 price target on shares of Global-e Online in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source