Insider Selling: Global-e Online (NASDAQ:GLBE) COO Sells 8,333 Shares of Stock

Key Points

• COO Shahar Tamari sold 8,333 shares on April 6 at an average price of $31.20 for roughly $259,990, executing the trade under a pre-arranged Rule 10b5-1 plan and reducing his stake by 0.24% to about 3,411,412 shares (~$106.4M).
• GLBE shares traded up 4.2% to $32.04 with a market cap of $5.44 billion, a trailing PE of 86.6, and a 52-week range of $27.80 to $43.21, while the stock sits below its 50- and 200-day moving averages.
• Analyst and institutional sentiment is broadly positive: the consensus rating is "Moderate Buy" with an average price target of $47.58 (majority Buy ratings), and institutional investors hold about 94.6% of the shares.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) COO Shahar Tamari sold 8,333 shares of the company's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $31.20, for a total value of $259,989.60. Following the completion of the transaction, the chief operating officer directly owned 3,411,412 shares of the company's stock, valued at approximately $106,436,054.40. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shahar Tamari also recently made the following trade(s):

• On Wednesday, March 18th, Shahar Tamari sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $33.81, for a total value of $563,477.46.

Global-e Online Stock Up 4.2%

Global-e Online stock traded up $1.30 during trading hours on Wednesday, hitting $32.04. The stock had a trading volume of 249,852 shares, compared to its average volume of 1,537,139. The company has a 50-day moving average of $33.53 and a two-hundred day moving average of $36.06. The company has a market cap of $5.44 billion, a PE ratio of 86.60 and a beta of 1.28. Global-e Online Ltd. has a fifty-two week low of $27.80 and a fifty-two week high of $43.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GLBE. IFP Advisors Inc boosted its holdings in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock worth $38,000 after acquiring an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online in the fourth quarter valued at $39,000. Geneos Wealth Management Inc. increased its stake in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock valued at $47,000 after buying an additional 528 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock valued at $61,000 after buying an additional 1,616 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Global-e Online by 237.7% in the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company's stock valued at $72,000 after buying an additional 1,376 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GLBE shares. Weiss Ratings upgraded shares of Global-e Online from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday, March 27th. Piper Sandler reissued an "overweight" rating on shares of Global-e Online in a research report on Thursday, February 19th. Benchmark increased their price target on shares of Global-e Online from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Wall Street Zen raised shares of Global-e Online from a "hold" rating to a "buy" rating in a research report on Sunday, March 29th. Finally, UBS Group dropped their price target on shares of Global-e Online from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Global-e Online presently has an average rating of "Moderate Buy" and a consensus price target of $47.58.

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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