Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells $1,030,708.77 in Stock

Key Points

• Global-e Online CEO Amir Schlachet sold 24,999 shares at an average price of $41.23, generating $1.03 million. He retained 4.07 million shares, and the sale reduced his position by 0.61%.
• GLBE shares traded near their 12-month high at $41.55, with a $7.05 billion market capitalization and a price-to-earnings ratio of 63.80.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $44.83, while institutional investors own 94.6% of the stock.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 24,999 shares of Global-e Online stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.23, for a total transaction of $1,030,708.77. Following the completion of the transaction, the chief executive officer owned 4,066,730 shares of the company's stock, valued at $167,671,277.90. This trade represents a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 transaction of $2,112,165.51.
• On Thursday, July 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were 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 shares were 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 shares were 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.
• On Thursday, May 7th, Amir Schlachet sold 6,194 shares of Global-e Online stock. The stock was sold at an average price of $32.45, for a total transaction of $200,995.30.

Global-e Online Trading Up 0.0%

NASDAQ:GLBE traded up $0.01 during mid-day trading on Wednesday, hitting $41.55. The stock had a trading volume of 685,339 shares, compared to its average volume of 1,566,645. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $42.38. The stock has a 50-day simple moving average of $35.26 and a two-hundred day simple moving average of $33.76. The company has a market capitalization of $7.05 billion, a PE ratio of 63.80 and a beta of 1.03.

Analysts Set New Price Targets

GLBE has been the subject of several recent analyst reports. Zacks Research cut shares of Global-e Online from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Piper Sandler reissued an "overweight" rating and issued a $48.00 target price on shares of Global-e Online in a report on Wednesday, July 29th. Weiss Ratings cut Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. Morgan Stanley lowered their price objective on Global-e Online from $43.00 to $37.00 and set an "overweight" rating for the company in a research report on Thursday, May 14th. Finally, BMO Capital Markets increased their price objective on Global-e Online from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GLBE. Legal & General Group Plc boosted its stake in Global-e Online by 105.3% in the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company's stock valued at $22,727,000 after acquiring an additional 296,466 shares in the last quarter. Annex Advisory Services LLC lifted its holdings in shares of Global-e Online by 64.4% in the 4th quarter. Annex Advisory Services LLC now owns 640,016 shares of the company's stock valued at $25,159,000 after purchasing an additional 250,625 shares during the last quarter. Vitruvian Partners LLP boosted its position in shares of Global-e Online by 21.9% in the 4th quarter. Vitruvian Partners LLP now owns 210,209 shares of the company's stock valued at $8,263,000 after purchasing an additional 37,767 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Global-e Online by 51.7% in the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company's stock valued at $4,484,000 after purchasing an additional 38,869 shares during the period. Finally, Next Century Growth Investors LLC grew its stake in Global-e Online by 38.6% during the 4th quarter. Next Century Growth Investors LLC now owns 274,708 shares of the company's stock worth $10,799,000 after buying an additional 76,452 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

About Global-e Online

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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