Global-e Online (NASDAQ:GLBE) CEO Sells $975,960.96 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 24,999 shares of the company’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $39.04, for a total value of $975,960.96. Following the sale, the chief executive officer owned 3,641,735 shares of the company’s stock, valued at $142,173,334.40. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, October 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $39.14, for a total value of $978,460.86.
• On Thursday, September 17th, Amir Schlachet sold 12,856 shares of Global-e Online stock. The shares were sold at an average price of $37.38, for a total value of $480,557.28.
• On Thursday, September 17th, Amir Schlachet sold 12,143 shares of Global-e Online stock. The stock was sold at an average price of $38.28, for a total value of $464,834.04.
• On Wednesday, September 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $38.24, for a total value of $955,961.76.
• On Thursday, August 13th, Amir Schlachet sold 100,000 shares of Global-e Online stock. The stock was sold at an average price of $42.10, for a total value of $4,210,000.00.
• 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 shares were 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 stock was 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 stock was sold at an average price of $42.09, for a total transaction of $55,053.72.

Global-e Online Stock Up 4.9%

Shares of GLBE stock traded up $1.96 on Tuesday, reaching $41.67. The company had a trading volume of 283,965 shares, compared to its average volume of 1,531,121. The business’s 50-day moving average is $39.33 and its 200 day moving average is $35.70. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $43.99. The stock has a market capitalization of $7.07 billion, a PE ratio of 48.28 and a beta of 0.98.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $299.00 million for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. On average, sell-side analysts forecast that Global-e Online Ltd. will post 1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GLBE. Benchmark reiterated a “buy” rating on shares of Global-e Online in a report on Thursday, August 13th. Truist Financial raised their price objective on Global-e Online from $41.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Needham & Company LLC restated a “buy” rating and set a $47.00 price objective on shares of Global-e Online in a research report on Tuesday, September 1st. Citigroup reaffirmed a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Finally, BMO Capital Markets increased their target price on Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Global-e Online has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Hedge Funds Weigh In On Global-e Online

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLBE. Wellington Management Group LLP raised its stake in shares of Global-e Online by 3,232.4% during the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock valued at $72,968,000 after acquiring an additional 2,037,962 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Global-e Online by 28.1% in the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after purchasing an additional 1,816,606 shares during the last quarter. Bienville Capital Management LLC bought a new stake in shares of Global-e Online in the second quarter worth $13,021,000. Renaissance Technologies LLC acquired a new stake in Global-e Online in the first quarter valued at $8,512,000. Finally, Bronte Capital Management Pty Ltd. acquired a new stake in Global-e Online in the first quarter valued at $6,574,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

About Global-e Online

Global-e Online Ltd. (NASDAQ: GLBE) provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.

The company’s platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.

Founded in 2013, Global-e serves merchants and shoppers across international markets.