Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells 16,666 Shares of Stock

Key Points

• CEO Amir Schlachet sold 16,666 shares on March 17 at an average price of $34.45 for about $574,143, and still owns 3,562,787 shares after the transaction, a 0.47% reduction in his stake.
• Global‑e shares traded down about 1.4% to $33.42 on light volume (54,518 vs. average 1.64M), with the company valued at a $5.67 billion market cap and a P/E of 90.26.
• Analysts hold a consensus rating of "Moderate Buy" with an average target of $47.80 amid mixed recent revisions, and institutional investors own roughly 94.6% of the stock.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 16,666 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total value of $574,143.70. Following the transaction, the chief executive officer owned 3,562,787 shares of the company's stock, valued at $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Global-e Online Stock Down 1.4%

Global-e Online stock traded down $0.47 during mid-day trading on Wednesday, reaching $33.42. 54,518 shares of the company's stock traded hands, compared to its average volume of 1,642,605. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $43.21. The stock has a 50 day moving average of $35.69 and a two-hundred day moving average of $36.51. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 90.26 and a beta of 1.24.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating on shares of Global-e Online in a report on Thursday, February 19th. Morgan Stanley restated an "overweight" rating on shares of Global-e Online in a research report on Thursday, February 19th. Zacks Research raised Global-e Online from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 19th. Truist Financial cut their target price on Global-e Online from $43.00 to $42.00 and set a "hold" rating on the stock in a research report on Thursday, February 26th. Finally, KeyCorp decreased their price target on Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.80.

Institutional Investors Weigh In On Global-e Online

Hedge funds and other institutional investors have recently modified their holdings of the business. Vitruvian Partners LLP boosted its position in Global-e Online by 23.1% during the 3rd quarter. Vitruvian Partners LLP now owns 172,442 shares of the company's stock valued at $6,167,000 after acquiring an additional 32,405 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of Global-e Online by 16.1% during the 3rd quarter. Penserra Capital Management LLC now owns 127,667 shares of the company's stock worth $4,564,000 after purchasing an additional 17,676 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Global-e Online by 50.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the company's stock valued at $27,714,000 after purchasing an additional 260,000 shares in the last quarter. Nordea Investment Management AB purchased a new position in Global-e Online in the third quarter valued at about $7,838,000. Finally, Brown Capital Management LLC raised its holdings in Global-e Online by 10.0% in the third quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company's stock worth $85,461,000 after purchasing an additional 216,304 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.