Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells $1,034,708.61 in Stock

Key Points

• Global-e CEO Amir Schlachet sold 24,999 shares for about $1.03 million at an average price of $41.39, reducing his stake by 0.69%. He still directly owns about 3.62 million shares, valued at roughly $149.7 million after the sale.
• The sale follows several other transactions by Schlachet in recent months, including sales of 24,999 shares on October 16 and October 2, and larger sales in August.
• Analysts maintain a “Moderate Buy” consensus on the stock, with an average price target of $48.08; shares traded at $44.16 in Wednesday’s session.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 24,999 shares of Global-e Online stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $41.39, for a total value of $1,034,708.61. Following the completion of the sale, the chief executive officer directly owned 3,616,736 shares in the company, valued at $149,696,703.04. This represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, October 16th, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $39.04, for a total value of $975,960.96.
• On Friday, October 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $39.14, for a total value of $978,460.86.
• On Thursday, September 17th, Amir Schlachet sold 12,856 shares of Global-e Online stock. The shares were 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 stock was 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.

Global-e Online Stock Performance

Global-e Online stock traded up $2.58 during mid-day trading on Wednesday, reaching $44.16. The company's stock had a trading volume of 314,514 shares, 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 business's 50 day simple moving average is $39.54 and its 200 day simple moving average is $35.74. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 51.60 and a beta of 1.10.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The firm had revenue of $299.00 million for 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 EPS for the current year.

Hedge Funds Weigh In On Global-e Online

Several large investors have recently modified their holdings of GLBE. Calamos Advisors LLC bought a new position in shares of Global-e Online during the third quarter worth approximately $709,000. Associated Banc Corp bought a new stake in Global-e Online in the 3rd quarter valued at $309,000. State of Wyoming boosted its stake in Global-e Online by 70.1% in the 3rd quarter. State of Wyoming now owns 20,086 shares of the company's stock valued at $798,000 after purchasing an additional 8,279 shares during the period. Signaturefd LLC increased its position in Global-e Online by 58.5% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock worth $38,000 after buying an additional 354 shares during the period. Finally, Seelaus Asset Management LLC increased its position in Global-e Online by 10.5% during the 3rd quarter. Seelaus Asset Management LLC now owns 14,858 shares of the company's stock worth $590,000 after buying an additional 1,409 shares during the period. 94.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen upgraded Global-e Online from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Needham & Company LLC reiterated a "buy" rating and set a $47.00 price objective on shares of Global-e Online in a research note on Tuesday, September 1st. Piper Sandler reissued an "overweight" rating and issued a $48.00 price objective on shares of Global-e Online in a report on Tuesday, August 11th. 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. Finally, Jefferies Financial Group restated a "buy" rating and set a $48.00 target price on shares of Global-e Online in a report on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $48.08.

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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