Global-e Online (NASDAQ:GLBE) CFO Sells 12,200 Shares of Stock

Key Points

• Global-e Online CFO Ofer Koren sold 12,200 shares at an average price of $38.07, generating $464,454 and reducing his holdings by 7.38% to 153,189 shares. He also sold 12,800 shares in two earlier September transactions.
• GLBE shares recently traded at $41.63, near their 12-month high of $43.99, while the company reported quarterly EPS of $0.37 on $299 million in revenue.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $47.69; institutional investors own 94.6% of the stock.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CFO Ofer Koren sold 12,200 shares of the company's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $38.07, for a total transaction of $464,454.00. Following the completion of the transaction, the chief financial officer owned 153,189 shares of the company's stock, valued at $5,831,905.23. This represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ofer Koren also recently made the following trade(s):

• On Monday, September 14th, Ofer Koren sold 300 shares of Global-e Online stock. The shares were sold at an average price of $38.00, for a total transaction of $11,400.00.
• On Tuesday, September 8th, Ofer Koren sold 12,500 shares of Global-e Online stock. The shares were sold at an average price of $36.68, for a total transaction of $458,500.00.

Global-e Online Stock Performance

NASDAQ:GLBE traded up $1.94 during mid-day trading on Tuesday, reaching $41.63. The stock had a trading volume of 784,588 shares, compared to its average volume of 1,553,462. The business has a 50 day simple moving average of $38.95 and a 200 day simple 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 capitalization of $7.07 billion, a price-to-earnings ratio of 48.41 and a beta of 1.00.

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

Hedge Funds Weigh In On Global-e Online

Several large investors have recently added to or reduced their stakes in GLBE. Main Management ETF Advisors LLC increased its holdings in Global-e Online by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 52,461 shares of the company's stock valued at $2,062,000 after purchasing an additional 536 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of Global-e Online by 62.4% during the second quarter. MCF Advisors LLC now owns 1,437 shares of the company's stock worth $50,000 after purchasing an additional 552 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Global-e Online by 8.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,224 shares of the company's stock worth $286,000 after purchasing an additional 631 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Global-e Online by 2.8% in the first quarter. Royal Bank of Canada now owns 37,100 shares of the company's stock valued at $1,145,000 after buying an additional 996 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Global-e Online by 0.3% in the first quarter. Sei Investments Co. now owns 310,182 shares of the company's stock valued at $9,569,000 after buying an additional 1,025 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLBE has been the subject of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $47.00 target price on shares of Global-e Online in a research report on Tuesday, September 1st. The Goldman Sachs Group restated a "buy" rating on shares of Global-e Online in a report on Wednesday, August 12th. BMO Capital Markets increased their price target on Global-e Online from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Zacks Research raised Global-e Online from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 25th. Finally, UBS Group set a $54.00 price objective on Global-e Online and gave the stock a "buy" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.69.

Global-e Online Company Profile

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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