Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells $2,112,165.51 in Stock

Key Points

• Global-e Online CEO Amir Schlachet sold 58,331 shares on June 26 at an average price of $36.21, totaling about $2.11 million. After the sale, he still held more than 4.14 million shares, worth roughly $150 million.
• The CEO has been actively trimming his stake, with several additional sales disclosed in recent weeks, including a 24,999-share sale on July 2 and multiple June and May transactions.
• Wall Street remains cautiously positive on GLBE, with an average analyst rating of “Moderate Buy” and an average price target of $44.33, even as some firms have recently downgraded the stock or lowered targets.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CEO Amir Schlachet sold 58,331 shares of the business's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.21, for a total value of $2,112,165.51. Following the sale, the chief executive officer owned 4,141,727 shares of the company's stock, valued at approximately $149,971,934.67. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 shares were sold at an average price of $32.18, for a total transaction of $536,311.88.
• On Monday, June 1st, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $33.58, for a total transaction 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 transaction of $555,644.44.
• On Tuesday, May 19th, Amir Schlachet sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $29.00, for a total transaction of $241,657.00.
• On Thursday, May 7th, Amir Schlachet sold 6,194 shares of Global-e Online stock. The shares were sold at an average price of $32.45, for a total transaction of $200,995.30.
• On Wednesday, May 6th, Amir Schlachet sold 1,022 shares of Global-e Online stock. The shares were sold at an average price of $31.27, for a total transaction of $31,957.94.
• On Tuesday, May 5th, Amir Schlachet sold 9,450 shares of Global-e Online stock. The shares were sold at an average price of $31.68, for a total transaction of $299,376.00.
• On Thursday, April 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was sold at an average price of $33.65, for a total transaction of $560,810.90.
• On Wednesday, April 15th, Amir Schlachet sold 4,332 shares of Global-e Online stock. The stock was sold at an average price of $33.09, for a total transaction of $143,345.88.

Global-e Online Stock Performance

Shares of NASDAQ GLBE opened at $36.85 on Monday. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 56.69 and a beta of 1.06. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $41.94. The firm's 50-day simple moving average is $31.85 and its 200 day simple moving average is $34.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLBE. Legal & General Group Plc grew its position in Global-e Online by 105.3% during the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company's stock valued at $22,727,000 after buying an additional 296,466 shares during the period. Annex Advisory Services LLC raised its position in Global-e Online by 64.4% in the fourth quarter. Annex Advisory Services LLC now owns 640,016 shares of the company's stock worth $25,159,000 after acquiring an additional 250,625 shares during the period. Vitruvian Partners LLP raised its position in Global-e Online by 21.9% in the fourth quarter. Vitruvian Partners LLP now owns 210,209 shares of the company's stock worth $8,263,000 after acquiring an additional 37,767 shares during the period. Spyglass Capital Management LLC boosted its stake in Global-e Online by 63.0% in the third quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company's stock valued at $96,665,000 after acquiring an additional 1,044,960 shares during the last quarter. Finally, Fieldview Capital Management LLC boosted its stake in Global-e Online by 31.7% in the third quarter. Fieldview Capital Management LLC now owns 105,648 shares of the company's stock valued at $3,778,000 after acquiring an additional 25,434 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GLBE shares. Wall Street Zen downgraded Global-e Online from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. BMO Capital Markets initiated coverage on Global-e Online in a research note on Tuesday, April 21st. They set an "outperform" rating and a $42.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating on shares of Global-e Online in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Global-e Online from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley cut their price target on shares of Global-e Online from $43.00 to $37.00 and set an "overweight" rating on the stock in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $44.33.

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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