Global-e Online (NASDAQ:GLBE) Hits New 12-Month High – What’s Next?

Global-e Online Ltd. (NASDAQ:GLBE)’s share price reached a new 52-week high on Wednesday. The company traded as high as $43.99 and last traded at $43.7150, with a volume of 178,724 shares traded. The stock had previously closed at $41.58.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GLBE shares. Morgan Stanley lifted their target price on Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. The Goldman Sachs Group reissued a “buy” rating on shares of Global-e Online in a research report on Wednesday, August 12th. Citigroup reiterated a “market outperform” rating on shares of Global-e Online in a research report on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 target price on shares of Global-e Online in a research note on Tuesday, September 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $48.00 price target on shares of Global-e Online in a research note on Wednesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

Global-e Online Stock Up 7.7%

The firm has a market capitalization of $7.60 billion, a PE ratio of 52.19 and a beta of 1.10. The firm’s fifty day simple moving average is $39.54 and its 200-day simple moving average is $35.74.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 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%. As a group, analysts predict that Global-e Online Ltd. will post 1.32 earnings per share for the current year.

Insider Activity

In related news, CEO Amir Schlachet sold 100,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the completion of the transaction, the chief executive officer owned 3,965,422 shares of the company’s stock, valued at $167,340,808.40. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Shahar Tamari sold 24,999 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $38.41, for a total value of $960,211.59. Following the completion of the sale, the chief operating officer owned 3,831,690 shares of the company’s stock, valued at $147,175,212.90. This trade represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 696,592 shares of company stock worth $28,338,223 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Several hedge funds and other institutional investors have recently made changes to their positions in GLBE. Signaturefd LLC boosted its position in shares of Global-e Online by 58.5% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $38,000 after buying an additional 354 shares during the period. MCF Advisors LLC grew its holdings in Global-e Online by 62.4% during the 2nd quarter. MCF Advisors LLC now owns 1,437 shares of the company’s stock worth $50,000 after acquiring an additional 552 shares in the last quarter. Seelaus Asset Management LLC bought a new stake in shares of Global-e Online in the 1st quarter worth about $231,000. Lombard Odier Asset Management USA Corp acquired a new stake in Global-e Online during the first quarter worth about $239,000. Finally, Associated Banc Corp bought a new stake in shares of Global-e Online in the 3rd quarter worth approximately $309,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

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.