Amir Schlachet Sells 8,333 Shares of Global-e Online (NASDAQ:GLBE) Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 8,333 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $33.58, for a total value of $279,822.14. Following the completion of the sale, the chief executive officer directly owned 4,233,390 shares in the company, valued at $142,157,236.20. This trade represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, June 2nd, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $33.34, for a total value of $555,644.44.
• 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 value of $241,657.00.
• On Thursday, May 7th, Amir Schlachet sold 6,194 shares of Global-e Online stock. The shares were 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 shares were 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 shares were sold at an average price of $33.09, for a total value of $143,345.88.
• On Wednesday, April 8th, Amir Schlachet sold 4,001 shares of Global-e Online stock. The shares were sold at an average price of $32.26, for a total value of $129,072.26.
• On Thursday, April 2nd, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were 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 shares were sold at an average price of $34.45, for a total value of $574,143.70.

Global-e Online Trading Up 3.5%

Shares of GLBE stock opened at $32.89 on Friday. The business’s 50-day moving average price is $30.94 and its 200-day moving average price is $34.80. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $41.94. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 50.60 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The firm had revenue of $252.09 million for the quarter, compared to analyst estimates of $250.78 million. During the same period last year, the firm posted ($0.11) earnings per share. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, sell-side analysts predict that Global-e Online Ltd. will post 1.12 earnings per share for the current fiscal year.

Key Global-e Online News

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

• Positive Sentiment: Global-e’s board approved a new share repurchase program of up to $500 million, following completion of about 80% of its prior $200 million plan. This could support the stock by reducing share count and signaling confidence in future cash generation. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Neutral Sentiment: The company noted that repurchases depend on regulatory approval in Israel, creditor objections, market conditions, liquidity, and other factors, so the buyback may not be executed as planned. Global-e Announces Board Authorization of $500 Million Share Repurchase Program
• Negative Sentiment: Recent insider selling from CEO Amir Schlachet, President Nir Debbi, and COO Shahar Tamari may weigh on sentiment, even though the sales were relatively small compared with their overall holdings. Insider sale filing

Institutional Investors Weigh In On Global-e Online

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its holdings in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after purchasing an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Global-e Online in the fourth quarter worth approximately $39,000. Geneos Wealth Management Inc. increased its holdings in Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after purchasing an additional 1,616 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Global-e Online by 237.7% in the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after purchasing an additional 1,376 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GLBE shares. KeyCorp lowered their price objective on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Jefferies Financial Group restated a “buy” rating and set a $40.00 price objective on shares of Global-e Online in a research report on Wednesday, May 13th. Bank of America started coverage on Global-e Online in a research report on Tuesday, March 31st. They set a “buy” rating and a $43.00 price objective for the company. Piper Sandler restated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Finally, BMO Capital Markets started coverage on Global-e Online in a research report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Global-e Online presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.92.

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.