Global-e Online (NASDAQ:GLBE) CEO Amir Schlachet Sells 16,666 Shares of Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $33.34, for a total transaction of $555,644.44. Following the sale, the chief executive officer owned 4,216,724 shares in the company, valued at approximately $140,585,578.16. This represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, June 1st, Amir Schlachet sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $33.58, for a total transaction of $279,822.14.
• On Tuesday, May 19th, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $29.00, for a total transaction of $241,657.00.
• On Thursday, May 7th, Amir Schlachet sold 6,194 shares of Global-e Online stock. The stock was sold at an average price of $32.45, for a total value of $200,995.30.
• On Wednesday, May 6th, Amir Schlachet sold 1,022 shares of Global-e Online stock. The shares were sold at an average price of $31.27, for a total value of $31,957.94.
• On Tuesday, May 5th, Amir Schlachet sold 9,450 shares of Global-e Online stock. The stock was sold at an average price of $31.68, for a total value of $299,376.00.
• On Thursday, April 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $33.65, for a total value of $560,810.90.
• On Wednesday, April 15th, Amir Schlachet sold 4,332 shares of Global-e Online stock. The stock was sold at an average price of $33.09, for a total transaction of $143,345.88.
• On Wednesday, April 8th, Amir Schlachet sold 4,001 shares of Global-e Online stock. The stock was sold at an average price of $32.26, for a total transaction of $129,072.26.
• On Thursday, April 2nd, Amir Schlachet sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $30.94, for a total value of $257,823.02.
• On Tuesday, March 17th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was sold at an average price of $34.45, for a total value of $574,143.70.

Global-e Online Stock Down 4.5%

Shares of GLBE opened at $31.79 on Thursday. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $41.94. The company has a market capitalization of $5.40 billion, a PE ratio of 48.91 and a beta of 1.16. The stock has a fifty day simple moving average of $30.91 and a two-hundred day simple moving average of $34.82.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The firm had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. During the same period last year, the business earned ($0.11) earnings per share. Global-e Online’s revenue was up 32.8% compared to the same quarter last year. As a group, equities analysts anticipate that Global-e Online Ltd. will post 1.12 earnings per share for the current fiscal year.

More Global-e Online News

Here are the key news stories impacting Global-e Online this week:

• Positive Sentiment: Global-e announced board approval for a share repurchase program of up to $500 million, which could help support earnings per share and signal confidence in the company’s valuation. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Positive Sentiment: Analysts cited by Zacks say Global-e has a potential upside of about 33.8%, and recent earnings estimate revisions have been trending higher, which may be supporting sentiment. Wall Street Analysts See a 33.78% Upside in Globale Online (GLBE): Can the Stock Really Move This High?
• Neutral Sentiment: Zacks also highlighted Global-e as one of several stocks with rising P/E ratios, which is more of a screening note than a company-specific catalyst. Bet on 5 Top-Ranked Stocks With Rising P/E for a Strong Portfolio
• Negative Sentiment: Multiple insider sales by CEO Amir Schlachet, President Nir Debbi, and COO Shahar Tamari may create some concern about management trimming exposure, even though the sales were relatively small versus their overall holdings. CEO insider sale filing

Analysts Set New Price Targets

GLBE has been the subject of several research reports. Morgan Stanley dropped their target price on Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Truist Financial dropped their price objective on Global-e Online from $37.00 to $34.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. BMO Capital Markets initiated coverage on shares of Global-e Online in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and issued a $40.00 price objective on shares of Global-e Online in a report on Wednesday, May 13th. Finally, Weiss Ratings lowered Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP increased its holdings in Global-e Online by 231.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after acquiring an additional 2,392,124 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after purchasing an additional 2,387,242 shares during the period. Janus Henderson Group PLC grew its holdings in Global-e Online by 1,539.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock valued at $89,213,000 after purchasing an additional 2,131,047 shares during the period. Arohi Asset Management PTE Ltd. increased its position in Global-e Online by 91.0% during the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock worth $94,680,000 after purchasing an additional 1,345,156 shares during the last quarter. Finally, Norges Bank acquired a new position in Global-e Online during the fourth quarter worth approximately $51,104,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

About Global-e Online

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.