Global-e Online (NASDAQ:GLBE) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Global-e Online (NASDAQ:GLBE) from a hold rating to a buy rating in a report issued on Sunday.

A number of other research analysts have also weighed in on the company. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Benchmark raised their price target on Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Weiss Ratings upgraded shares of Global-e Online from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday. Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Finally, Piper Sandler restated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Global-e Online currently has an average rating of “Moderate Buy” and a consensus target price of $47.80.

Global-e Online Price Performance

NASDAQ:GLBE opened at $28.93 on Friday. Global-e Online has a 12-month low of $26.64 and a 12-month high of $43.21. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 78.19 and a beta of 1.24. The stock’s 50 day moving average price is $34.44 and its two-hundred day moving average price is $36.33.

Insider Transactions at Global-e Online

In related news, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total transaction of $574,143.70. Following the transaction, the chief executive officer directly owned 3,562,787 shares of the company’s stock, valued at approximately $122,738,012.15. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shahar Tamari sold 16,666 shares of Global-e Online stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total transaction of $563,477.46. Following the completion of the sale, the chief operating officer owned 3,419,745 shares of the company’s stock, valued at $115,621,578.45. This trade represents a 0.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,664 shares of company stock valued at $1,425,158. 11.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Arohi Asset Management PTE Ltd. grew its position in Global-e Online by 0.6% during the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after buying an additional 23,213 shares in the last quarter. Vident Advisory LLC raised its holdings in Global-e Online by 10.5% in the 4th quarter. Vident Advisory LLC now owns 14,866 shares of the company’s stock valued at $584,000 after acquiring an additional 1,413 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Global-e Online during the 4th quarter valued at $689,000. Twinbeech Capital LP bought a new stake in shares of Global-e Online during the 4th quarter valued at $208,000. Finally, SRS Investment Management LLC grew its holdings in shares of Global-e Online by 203.4% during the 4th quarter. SRS Investment Management LLC now owns 896,717 shares of the company’s stock worth $35,250,000 after purchasing an additional 601,168 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

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.