Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells 100,000 Shares of Stock

Key Points

• Global-e Online CEO Amir Schlachet sold 100,000 shares at an average price of $42.20, generating $4.22 million. He retained 3,965,422 shares worth approximately $167.3 million, a 2.46% reduction in his direct ownership.
• GLBE shares traded at $41.15, near their one-year high of $42.51, with a market capitalization of $6.98 billion. The stock’s 50-day and 200-day moving averages were $35.96 and $33.84, respectively.
• Analysts remain broadly positive, with 13 Buy ratings, one Hold, and one Sell; the consensus rating is Moderate Buy with an average price target of $44.83. Institutional investors own 94.60% of the company.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 100,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the completion of the sale, the chief executive officer directly owned 3,965,422 shares in the company, valued at $167,340,808.40. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, August 5th, Amir Schlachet sold 1,308 shares of Global-e Online stock. The stock was sold at an average price of $42.09, for a total transaction of $55,053.72.
• On Tuesday, August 4th, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $41.23, for a total value of $1,030,708.77.
• On Friday, June 26th, Amir Schlachet sold 58,331 shares of Global-e Online stock. The shares were sold at an average price of $36.21, for a total value of $2,112,165.51.
• On Thursday, July 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $37.09, for a total value of $927,212.91.
• On Tuesday, June 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was sold at an average price of $32.18, for a total value of $536,311.88.
• On Monday, June 1st, Amir Schlachet sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $33.58, for a total value of $279,822.14.
• On Tuesday, June 2nd, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was sold at an average price of $33.34, for a total value of $555,644.44.
• On Tuesday, May 19th, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $29.00, for a total value of $241,657.00.

Global-e Online Stock Performance

Global-e Online stock traded down $1.17 during mid-day trading on Monday, hitting $41.15. The company's stock had a trading volume of 2,665,149 shares, compared to its average volume of 1,573,696. The company has a 50 day moving average of $35.96 and a 200-day moving average of $33.84. The stock has a market cap of $6.98 billion, a PE ratio of 63.31 and a beta of 1.03. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $42.51.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating on shares of Global-e Online in a research note on Wednesday, May 27th. Truist Financial raised their price target on shares of Global-e Online from $39.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Piper Sandler reiterated an "overweight" rating and set a $48.00 price objective on shares of Global-e Online in a report on Wednesday, July 29th. Raymond James Financial reissued an "outperform" rating and issued a $42.00 price objective on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $40.00 target price on shares of Global-e Online in a research note on Wednesday, May 13th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $44.83.

Institutional Investors Weigh In On Global-e Online

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Global-e Online during the fourth quarter valued at $39,000. IFP Advisors Inc lifted its stake in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock worth $38,000 after acquiring an additional 448 shares during the period. Geneos Wealth Management Inc. grew its holdings in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock worth $47,000 after acquiring an additional 528 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock worth $61,000 after acquiring an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Global-e Online during the 4th quarter valued at about $72,000. 94.60% of the stock is owned by institutional investors.

Global-e Online Company Profile

Global-e Online Ltd. NASDAQ: GLBE is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company's cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e's offering is a comprehensive suite of services that includes customizable checkout in the buyer's local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.

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