Insider Selling: Global-e Online (NASDAQ:GLBE) COO Sells $950,711.97 in Stock

Key Points

• Global-e Online COO Shahar Tamari sold 24,999 shares at an average price of $38.03, generating approximately $950,712. He still directly owns 3.81 million shares valued at about $144.8 million.
• The sale continues a series of insider transactions, with Tamari having sold shares in several trades since June. The latest transaction reduced his ownership by approximately 0.65%.
• GLBE shares recently rose 4.9% to $41.63, while analysts maintain a “Moderate Buy” consensus 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) COO Shahar Tamari sold 24,999 shares of the company's stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $38.03, for a total value of $950,711.97. Following the completion of the transaction, the chief operating officer directly owned 3,806,691 shares of the company's stock, valued at $144,768,458.73. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shahar Tamari also recently made the following trade(s):

• On Thursday, September 3rd, Shahar Tamari sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $38.41, for a total transaction of $960,211.59.
• On Wednesday, August 19th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $41.63, for a total value of $1,040,708.37.
• On Wednesday, August 5th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $41.59, for a total transaction of $1,039,708.41.
• On Monday, July 6th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $36.81, for a total value of $920,213.19.
• On Thursday, June 25th, Shahar Tamari sold 15,235 shares of Global-e Online stock. The shares were sold at an average price of $35.13, for a total value of $535,205.55.
• On Friday, June 26th, Shahar Tamari sold 28,623 shares of Global-e Online stock. The shares were sold at an average price of $36.02, for a total transaction of $1,031,000.46.

Global-e Online Stock Up 4.9%

NASDAQ GLBE traded up $1.94 during trading hours on Tuesday, hitting $41.63. 784,588 shares of the stock were exchanged, compared to its average volume of 1,553,462. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 48.41 and a beta of 1.00. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $43.99. The stock has a 50-day moving average of $38.95 and a 200 day moving average of $34.78.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The company 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%. On average, equities research analysts expect that Global-e Online Ltd. will post 1.32 earnings per share for the current year.

Institutional Investors Weigh In On Global-e Online

Several hedge funds have recently made changes to their positions in GLBE. MCF Advisors LLC increased its stake in 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. Royce & Associates LP acquired a new position in shares of Global-e Online during the 4th quarter valued at about $204,000. PNC Financial Services Group Inc. increased its stake in shares of Global-e Online by 87.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,546 shares of the company's stock valued at $218,000 after acquiring an additional 2,592 shares during the last quarter. Seelaus Asset Management LLC purchased a new position in shares of Global-e Online during the 1st quarter worth about $231,000. Finally, Lombard Odier Asset Management USA Corp acquired a new stake in shares of Global-e Online in the first quarter worth approximately $239,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GLBE. Loop Capital set a $49.00 target price on Global-e Online in a research note on Wednesday, August 12th. Jefferies Financial Group reissued a "buy" rating and issued a $48.00 price target on shares of Global-e Online in a report on Wednesday, August 12th. Raymond James Financial restated an "outperform" rating and issued a $48.00 price objective on shares of Global-e Online in a research report on Thursday, August 13th. The Goldman Sachs Group reiterated a "buy" rating on shares of Global-e Online in a research report on Wednesday, August 12th. Finally, UBS Group set a $54.00 target price on shares of Global-e Online and gave the company a "buy" rating in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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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