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

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 100,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $42.10, for a total transaction of $4,210,000.00. Following the sale, the chief executive officer owned 3,848,286 shares of the company’s stock, valued at $162,012,840.60. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, August 14th, Amir Schlachet sold 81,556 shares of Global-e Online stock. The shares were sold at an average price of $42.30, for a total value of $3,449,818.80.
• On Wednesday, August 12th, Amir Schlachet sold 16,814 shares of Global-e Online stock. The shares were sold at an average price of $42.41, for a total value of $713,081.74.
• On Monday, August 10th, Amir Schlachet sold 322 shares of Global-e Online stock. The stock was sold at an average price of $42.07, for a total value of $13,546.54.
• On Friday, August 7th, Amir Schlachet sold 100,000 shares of Global-e Online stock. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00.
• On Wednesday, August 5th, Amir Schlachet sold 1,308 shares of Global-e Online stock. The shares were sold at an average price of $42.09, for a total value of $55,053.72.
• On Tuesday, August 4th, Amir Schlachet sold 24,999 shares of Global-e Online stock. The stock was 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 stock was 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 shares were sold at an average price of $37.09, for a total transaction 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 stock was sold at an average price of $33.58, for a total transaction of $279,822.14.

Global-e Online Price Performance

Shares of GLBE stock traded down $1.34 during mid-day trading on Monday, hitting $41.02. The stock had a trading volume of 442,853 shares, compared to its average volume of 1,589,613. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $43.99. The firm has a market cap of $6.96 billion, a PE ratio of 47.61 and a beta of 1.03. The company’s 50-day simple moving average is $36.82 and its 200-day simple moving average is $34.00.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. The firm had revenue of $299.00 million during the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. On average, analysts expect that Global-e Online Ltd. will post 1.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial boosted their target price on shares of Global-e Online from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. UBS Group set a $54.00 price target on shares of Global-e Online and gave the company a “buy” rating in a report on Thursday. Benchmark reissued a “buy” rating on shares of Global-e Online in a report on Thursday. Needham & Company LLC restated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Finally, Loop Capital set a $49.00 target price on shares of Global-e Online in a report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.23.

Institutional Trading of Global-e Online

Several institutional investors and hedge funds have recently modified their holdings of GLBE. Legal & General Group Plc lifted its stake in shares of Global-e Online by 105.3% during the 4th quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock worth $22,727,000 after purchasing an additional 296,466 shares during the period. Vitruvian Partners LLP increased its stake in Global-e Online by 21.9% in the fourth 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 last quarter. Empowered Funds LLC purchased a new position in Global-e Online during the first quarter worth about $1,144,000. Handelsbanken Fonder AB boosted its stake in Global-e Online by 51.7% in the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company’s stock worth $4,484,000 after buying an additional 38,869 shares during the last quarter. Finally, Wasatch Advisors LP boosted its stake in Global-e Online by 28.1% in the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after buying an additional 1,816,606 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

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.