Ofer Koren Sells 12,500 Shares of Global-e Online (NASDAQ:GLBE) Stock

Key Points

• CFO Ofer Koren sold 12,500 Global-e Online shares at an average price of $36.68, generating $458,500. Following the sale, he retained 153,189 shares, a 7.54% reduction in his position.
• Global-e Online recently reported quarterly EPS of $0.37 on revenue of $299 million, with a 13.87% net margin and 16.70% return on equity. Analysts expect full-year EPS of $1.32.
• Analysts maintain a broadly positive view, with a “Moderate Buy” consensus and an average price target of $47.69 versus the stock’s reported price of $37.49. Institutional investors own 94.60% of the company.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CFO Ofer Koren sold 12,500 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $36.68, for a total transaction of $458,500.00. Following the completion of the sale, the chief financial officer owned 153,189 shares in the company, valued at $5,618,972.52. This represents a 7.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Global-e Online Stock Performance

Global-e Online stock traded up $0.31 on Monday, reaching $37.49. The company's stock had a trading volume of 1,265,517 shares, compared to its average volume of 1,542,321. The business's fifty day moving average price is $38.91 and its 200 day moving average price is $34.65. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $43.99. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 43.59 and a beta of 1.00.

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

Analyst Ratings Changes

A number of brokerages have commented on GLBE. Morgan Stanley increased their price objective on 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. UBS Group set a $54.00 price target on Global-e Online and gave the company a "buy" rating in a research note on Thursday, August 13th. Truist Financial raised their price target on Global-e Online from $41.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an "accumulate" rating in a report on Wednesday, May 27th. Finally, Piper Sandler reissued an "overweight" rating and set a $48.00 price objective on shares of Global-e Online in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $47.69.

Institutional Trading of Global-e Online

Institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP boosted its holdings 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 buying an additional 1,816,606 shares during the last quarter. Contour Asset Management LLC raised its position in shares of Global-e Online by 4.6% in the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company's stock valued at $190,342,000 after acquiring an additional 211,034 shares during the period. California State Teachers Retirement System raised its position in shares of Global-e Online by 3,399.9% in the 2nd quarter. California State Teachers Retirement System now owns 4,066,709 shares of the company's stock valued at $141,237,000 after acquiring an additional 3,950,515 shares during the period. Wellington Management Group LLP boosted its stake in Global-e Online by 3,232.4% during the 2nd quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company's stock worth $72,968,000 after acquiring an additional 2,037,962 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Global-e Online by 4.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company's stock worth $72,833,000 after acquiring an additional 91,384 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

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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