Insider Selling: Global-e Online (NASDAQ:GLBE) President Sells $287,537.32 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) President Nir Debbi sold 8,332 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $34.51, for a total value of $287,537.32. Following the completion of the transaction, the president directly owned 3,897,506 shares in the company, valued at approximately $134,502,932.06. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Global-e Online Trading Down 4.9%

GLBE stock opened at $32.34 on Friday. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21. The company has a market capitalization of $5.49 billion, a P/E ratio of 87.41 and a beta of 1.24. The firm has a 50 day simple moving average of $35.26 and a 200-day simple moving average of $36.46.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GLBE. Benchmark raised their price objective on shares of Global-e Online from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Zacks Research upgraded shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. KeyCorp decreased their price target on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Finally, Truist Financial lowered their price objective on Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.80.

Hedge Funds Weigh In On Global-e Online

Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its position in Global-e Online by 87.4% in the 1st quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock valued at $2,684,000 after purchasing an additional 35,120 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Global-e Online by 17.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after purchasing an additional 8,239 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Global-e Online in the second quarter valued at approximately $610,000. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in shares of Global-e Online by 32.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,904 shares of the company’s stock valued at $802,000 after purchasing an additional 5,882 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.