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

Key Points

• CEO Amir Schlachet sold 24,999 Global-e Online shares at an average price of $39.14, generating approximately $978,461. After the sale, he continued to own 3.67 million shares valued at about $143.5 million.
• Global-e Online shares rose 2.1% to $40.15, while the company reported quarterly revenue of $299 million and earnings of $0.37 per share. Analysts project $1.32 in full-year EPS.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $47.69; institutional investors and hedge funds own 94.6% of the company.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 24,999 shares of the company's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $39.14, for a total transaction of $978,460.86. Following the completion of the sale, the chief executive officer directly owned 3,666,734 shares in the company, valued at approximately $143,515,968.76. The trade was a 0.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, September 17th, Amir Schlachet sold 12,856 shares of Global-e Online stock. The stock was sold at an average price of $37.38, for a total value of $480,557.28.
• On Thursday, September 17th, Amir Schlachet sold 12,143 shares of Global-e Online stock. The shares were sold at an average price of $38.28, for a total value of $464,834.04.
• On Wednesday, September 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $38.24, for a total transaction of $955,961.76.
• On Thursday, August 13th, Amir Schlachet sold 100,000 shares of Global-e Online stock. The shares were 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 shares were 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 stock was 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 stock was 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.

Global-e Online Stock Up 2.1%

GLBE stock traded up $0.84 during midday trading on Monday, reaching $40.15. 114,330 shares of the company's stock traded hands, compared to its average volume of 1,550,348. The company has a 50-day simple moving average of $39.54 and a two-hundred day simple moving average of $35.11. Global-e Online Ltd. has a 1-year low of $26.84 and a 1-year high of $43.99. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 46.70 and a beta of 0.98.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results 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. Equities research analysts forecast that Global-e Online Ltd. will post 1.32 EPS for the current year.

Hedge Funds Weigh In On Global-e Online

Institutional investors and hedge funds have recently modified their holdings of the business. MCF Advisors LLC boosted its holdings in shares of Global-e Online by 62.4% in the second quarter. MCF Advisors LLC now owns 1,437 shares of the company's stock valued at $50,000 after buying an additional 552 shares during the period. Bienville Capital Management LLC acquired a new position in shares of Global-e Online during the 2nd quarter worth about $13,021,000. Keenan Capital LLC raised its holdings in Global-e Online by 4.8% during the second quarter. Keenan Capital LLC now owns 1,955,262 shares of the company's stock worth $67,906,000 after acquiring an additional 90,000 shares in the last quarter. Spyglass Capital Management LLC grew its stake in Global-e Online by 1.1% in the second quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company's stock valued at $68,015,000 after purchasing an additional 20,610 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Global-e Online by 3,232.4% during the 2nd quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company's stock worth $72,968,000 after purchasing an additional 2,037,962 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLBE has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Global-e Online from $44.00 to $46.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. The Goldman Sachs Group reissued a "buy" rating on shares of Global-e Online in a research note on Wednesday, August 12th. Piper Sandler restated an "overweight" rating and set a $48.00 target price on shares of Global-e Online in a research report on Tuesday, August 11th. Benchmark reiterated a "buy" rating on shares of Global-e Online in a report on Thursday, August 13th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $48.00 price objective 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 issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.69.

About Global-e Online

Global-e Online Ltd. is an Israel-based technology company that provides an end-to-end platform for cross-border e-commerce. Its software helps retailers and brands sell directly to consumers in international markets by adapting online shopping experiences to local languages, currencies, payment methods, tax requirements and delivery preferences.

The company's services support the international customer journey, including localized storefronts and checkout experiences, calculation and collection of duties and taxes, payment processing, fraud prevention, international shipping, order management and returns.

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