Insider Selling: Global-e Online (NASDAQ:GLBE) COO Sells $988,460.46 in Stock

Key Points

• Global-e Online COO Shahar Tamari sold 24,999 shares at an average price of $39.54, generating $988,460.46. He retained 3,756,693 shares valued at approximately $148.5 million.
• The sale continues a pattern of insider transactions, with Tamari selling roughly 25,000 shares in each of five additional transactions since August.
• GLBE shares fell 1.9% to $41.00, while analysts maintained a “Moderate Buy” consensus and an average price target of $48.00.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) COO Shahar Tamari sold 24,999 shares of the stock in a transaction on Monday, October 19th. The shares were sold at an average price of $39.54, for a total transaction of $988,460.46. Following the transaction, the chief operating officer owned 3,756,693 shares in the company, valued at $148,539,641.22. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, October 5th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $39.87, for a total value of $996,710.13.
• On Friday, September 18th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $38.03, for a total value of $950,711.97.
• 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 value 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 value of $1,039,708.41.

Global-e Online Trading Down 1.9%

Global-e Online stock traded down $0.78 during mid-day trading on Wednesday, reaching $41.00. The company's stock had a trading volume of 546,412 shares, compared to its average volume of 1,532,958. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 47.67 and a beta of 0.98. The business has a 50 day moving average price of $39.34 and a 200-day moving average price of $35.77. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $43.99.

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

Hedge Funds Weigh In On Global-e Online

Several hedge funds and other institutional investors have recently modified their holdings of GLBE. MCF Advisors LLC raised 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 valued at $50,000 after buying an additional 552 shares during the last quarter. Seelaus Asset Management LLC bought a new position in Global-e Online in the 1st quarter worth approximately $231,000. Lombard Odier Asset Management USA Corp bought a new position in Global-e Online in the 1st quarter worth approximately $239,000. Hennion & Walsh Asset Management Inc. grew its holdings in Global-e Online by 8.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 8,224 shares of the company's stock worth $286,000 after buying an additional 631 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Global-e Online by 5.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 28,002 shares of the company's stock worth $864,000 after buying an additional 1,321 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GLBE. BMO Capital Markets increased their price objective on shares of Global-e Online from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. The Goldman Sachs Group restated a "buy" rating on shares of Global-e Online in a research note on Wednesday, August 12th. Zacks Research lowered Global-e Online from a "strong-buy" rating to a "hold" rating in a report on Monday, October 12th. Citigroup reaffirmed a "market outperform" rating on shares of Global-e Online in a report on Thursday, August 13th. Finally, Wall Street Zen upgraded Global-e Online from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.

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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