Global-e Online (NASDAQ:GLBE) CEO Sells $480,557.28 in Stock

Key Points

• CEO Amir Schlachet sold 12,856 Global-e Online shares at an average price of $37.38, generating $480,557.28. He retained 3,703,876 shares valued at approximately $138.45 million.
• The sale was part of a broader pattern of insider selling, with Schlachet having sold additional shares in several transactions since June, including large sales in August.
• Global-e Online shares recently rose 3.0% to $40.87, while analysts maintained a broadly positive outlook: the stock carries a “Moderate Buy” consensus rating and an average price target of $47.69.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 12,856 shares of the business's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $37.38, for a total value of $480,557.28. Following the transaction, the chief executive officer directly owned 3,703,876 shares in the company, valued at $138,450,884.88. This trade represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 transaction of $464,834.04.
• On Wednesday, September 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were 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 stock was sold at an average price of $42.10, for a total value 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 value 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 value 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 stock was 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 transaction of $55,053.72.
• On Tuesday, August 4th, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $41.23, for a total transaction of $1,030,708.77.
• On Friday, June 26th, Amir Schlachet sold 58,331 shares of Global-e Online stock. The shares were sold at an average price of $36.21, for a total transaction of $2,112,165.51.

Global-e Online Trading Up 3.0%

GLBE traded up $1.18 on Tuesday, hitting $40.87. 312,394 shares of the company's stock were exchanged, compared to its average volume of 1,550,538. The stock has a fifty day moving average of $38.95 and a two-hundred day moving average of $34.78. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $43.99. The firm has a market cap of $6.94 billion, a PE ratio of 47.53 and a beta of 1.00.

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

Hedge Funds Weigh In On Global-e Online

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GLBE shares. Truist Financial boosted their target price on Global-e Online from $41.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded shares of Global-e Online from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $47.00 price objective on shares of Global-e Online in a report on Tuesday, September 1st. Citigroup reiterated a "market outperform" rating on shares of Global-e Online in a research note on Thursday, August 13th. Finally, Morgan Stanley increased their target price on Global-e Online from $44.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.69.

About Global-e Online

Global-e Online Ltd. NASDAQ: GLBE provides a software platform that enables merchants and brands to sell products internationally through localized e-commerce experiences. Its technology is designed to help businesses manage the operational and regulatory complexities of cross-border online commerce while presenting shoppers with familiar purchasing experiences in their local markets.

The company's services include localized websites and checkout experiences, support for multiple currencies and payment methods, international shipping options, calculation and collection of duties and taxes, fraud prevention, returns management, and analytics.

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