Global-e Online (NASDAQ:GLBE) COO Sells 24,999 Shares of Company Stock

Global-e Online Ltd. (NASDAQ:GLBE) COO Shahar Tamari sold 24,999 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $39.87, for a total transaction of $996,710.13. Following the completion of the sale, the chief operating officer directly owned 3,781,692 shares in the company, valued at approximately $150,776,060.04. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shahar Tamari also recently made the following trade(s):

• On Friday, September 18th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $38.03, for a total transaction of $950,711.97.
• On Thursday, September 3rd, Shahar Tamari sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $38.41, for a total value of $960,211.59.
• On Wednesday, August 19th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $41.63, for a total transaction of $1,040,708.37.
• On Wednesday, August 5th, Shahar Tamari sold 24,999 shares of Global-e Online stock. The stock was sold at an average price of $41.59, for a total transaction of $1,039,708.41.

Global-e Online Stock Performance

Global-e Online stock traded up $0.26 during midday trading on Wednesday, hitting $38.96. 1,011,874 shares of the company’s stock were exchanged, compared to its average volume of 1,550,209. The company has a market cap of $6.61 billion, a PE ratio of 45.30 and a beta of 0.98. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $43.99. The firm has a 50-day moving average of $39.58 and a two-hundred day moving average of $35.18.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data 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 return on equity of 16.70% and a net margin of 13.87%. As a group, equities analysts expect that Global-e Online Ltd. will post 1.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLBE. Weiss Ratings upgraded Global-e Online from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. The Goldman Sachs Group reissued a “buy” rating on shares of Global-e Online in a research note on Wednesday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $47.00 price target on shares of Global-e Online in a report on Tuesday, September 1st. BMO Capital Markets upped their price objective on shares of Global-e Online from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Global-e Online in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Global-e Online currently has a consensus rating of “Moderate Buy” and an average target price of $47.69.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new position in Global-e Online during the first quarter worth about $1,144,000. Wasatch Advisors LP lifted its holdings in shares of 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 acquiring an additional 1,816,606 shares during the last quarter. Keenan Capital LLC lifted its holdings in shares of Global-e Online by 4.8% in the 2nd quarter. Keenan Capital LLC now owns 1,955,262 shares of the company’s stock worth $67,906,000 after acquiring an additional 90,000 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Global-e Online by 38.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 174,989 shares of the company’s stock worth $6,077,000 after purchasing an additional 48,145 shares during the period. Finally, Summit Creek Advisors LLC acquired a new stake in Global-e Online in the 2nd quarter valued at approximately $5,974,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Company Profile

Global-e Online Ltd. is an Israel-based technology company that provides an end-to-end platform for cross-border e-commerce. Its software helps retailers and brands sell directly to consumers in international markets by adapting online shopping experiences to local languages, currencies, payment methods, tax requirements and delivery preferences.

The company’s services support the international customer journey, including localized storefronts and checkout experiences, calculation and collection of duties and taxes, payment processing, fraud prevention, international shipping, order management and returns.