Global-e Online (NASDAQ:GLBE) President Sells $630,234.04 in Stock

Key Points

• Global-e Online President Nir Debbi sold 14,582 shares for $630,234 at an average price of $43.22, reducing his stake by 0.33%. He retained 4.34 million shares, valued at about $187.7 million after the sale.
• GLBE shares rose 6.2% to $44.16 in Wednesday trading. Analysts held a consensus “Moderate Buy” rating, with an average price target of $48.08.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) President Nir Debbi sold 14,582 shares of the company's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $43.22, for a total transaction of $630,234.04. Following the completion of the transaction, the president owned 4,342,793 shares in the company, valued at approximately $187,695,513.46. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nir Debbi also recently made the following trade(s):

• On Thursday, October 15th, Nir Debbi sold 14,582 shares of Global-e Online stock. The shares were sold at an average price of $39.81, for a total transaction of $580,509.42.
• On Thursday, October 1st, Nir Debbi sold 14,582 shares of Global-e Online stock. The shares were sold at an average price of $40.18, for a total transaction of $585,904.76.
• On Wednesday, September 16th, Nir Debbi sold 8,332 shares of Global-e Online stock. The shares were sold at an average price of $36.89, for a total transaction of $307,367.48.
• On Monday, September 21st, Nir Debbi sold 12,272 shares of Global-e Online stock. The shares were sold at an average price of $39.56, for a total transaction of $485,480.32.
• On Friday, September 4th, Nir Debbi sold 228 shares of Global-e Online stock. The stock was sold at an average price of $39.21, for a total transaction of $8,939.88.
• On Tuesday, September 1st, Nir Debbi sold 8,332 shares of Global-e Online stock. The stock was sold at an average price of $37.23, for a total value of $310,200.36.

Global-e Online Trading Up 6.2%

Shares of NASDAQ:GLBE traded up $2.58 during trading on Wednesday, reaching $44.16. 314,514 shares of the stock were exchanged, compared to its average volume of 1,524,911. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $44.02. The stock has a 50-day moving average price of $39.54 and a 200-day moving average price of $35.74. The firm has a market cap of $7.50 billion, a PE ratio of 51.35 and a beta of 1.10.

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

Wall Street Analysts Forecast Growth

GLBE has been the topic of several recent research reports. UBS Group set a $54.00 price objective on Global-e Online and gave the stock a "buy" rating in a research report on Thursday, August 13th. Morgan Stanley boosted their target price on shares of Global-e Online from $44.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Jefferies Financial Group restated a "buy" rating and issued a $48.00 price target on shares of Global-e Online in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Global-e Online from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Citigroup reissued a "market outperform" rating on shares of Global-e Online in a report on Thursday, August 13th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.08.

Hedge Funds Weigh In On Global-e Online

Several hedge funds have recently bought and sold shares of GLBE. Empowered Funds LLC bought a new position in Global-e Online in the first quarter valued at approximately $1,144,000. Keenan Capital LLC raised its position 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 valued at $67,906,000 after purchasing an additional 90,000 shares in the last quarter. Wasatch Advisors LP lifted its stake in Global-e Online by 28.1% during the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company's stock worth $287,397,000 after purchasing an additional 1,816,606 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Global-e Online by 38.0% during the second quarter. Handelsbanken Fonder AB now owns 174,989 shares of the company's stock worth $6,077,000 after purchasing an additional 48,145 shares during the last quarter. Finally, Summit Creek Advisors LLC bought a new stake in Global-e Online during the second quarter worth $5,974,000. 94.60% of the stock is owned by institutional investors.

About Global-e Online

Global-e Online Ltd. NASDAQ: GLBE provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.

The company's platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.

Founded in 2013, Global-e serves merchants and shoppers across international markets.

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