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

Global-e Online Ltd. (NASDAQ:GLBE) COO Shahar Tamari sold 24,999 shares of Global-e Online stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $36.81, for a total value of $920,213.19. Following the transaction, the chief operating officer owned 3,931,686 shares of the company’s stock, valued at $144,725,361.66. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, June 25th, Shahar Tamari sold 15,235 shares of Global-e Online stock. The shares were sold at an average price of $35.13, for a total value of $535,205.55.
• On Friday, June 26th, Shahar Tamari sold 28,623 shares of Global-e Online stock. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46.
• On Thursday, June 18th, Shahar Tamari sold 2,110 shares of Global-e Online stock. The stock was sold at an average price of $32.51, for a total transaction of $68,596.10.
• On Wednesday, June 17th, Shahar Tamari sold 14,556 shares of Global-e Online stock. The shares were sold at an average price of $32.23, for a total transaction of $469,139.88.
• On Wednesday, June 3rd, Shahar Tamari sold 8,792 shares of Global-e Online stock. The shares were sold at an average price of $31.55, for a total transaction of $277,387.60.
• On Thursday, June 4th, Shahar Tamari sold 7,874 shares of Global-e Online stock. The shares were sold at an average price of $33.09, for a total transaction of $260,550.66.
• On Monday, June 1st, Shahar Tamari sold 8,333 shares of Global-e Online stock. The stock was sold at an average price of $33.59, for a total transaction of $279,905.47.
• On Thursday, May 21st, Shahar Tamari sold 3,387 shares of Global-e Online stock. The stock was sold at an average price of $30.26, for a total transaction of $102,490.62.
• On Wednesday, May 20th, Shahar Tamari sold 4,946 shares of Global-e Online stock. The shares were sold at an average price of $30.02, for a total transaction of $148,478.92.
• On Thursday, May 7th, Shahar Tamari sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $32.45, for a total transaction of $270,405.85.

Global-e Online Stock Down 1.0%

Shares of GLBE stock opened at $36.92 on Wednesday. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $41.94. The company has a market capitalization of $6.27 billion, a PE ratio of 56.80 and a beta of 1.06. The firm has a 50 day moving average price of $32.09 and a two-hundred day moving average price of $33.99.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings cut Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Truist Financial upgraded shares of Global-e Online from a “hold” rating to a “buy” rating and upped their price target for the company from $34.00 to $39.00 in a research note on Wednesday, June 10th. UBS Group dropped their price objective on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

Key Global-e Online News

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

• Negative Sentiment: CEO Amir Schlachet sold 24,999 shares for about $927,000, adding to earlier insider selling in late June and signaling that management has been trimming positions. CEO Amir Schlachet insider sale filing
• Negative Sentiment: COO Shahar Tamari also sold 24,999 shares for about $920,000, reinforcing the recent insider-selling trend and potentially weighing on sentiment toward GLBE. COO Shahar Tamari insider sale filing
• Negative Sentiment: President Nir Debbi sold 8,332 shares earlier in the week, adding another data point to the pattern of executive selling that traders may interpret as a negative near-term signal. President Nir Debbi insider sale filing
• Neutral Sentiment: Despite the insider activity, Global-e Online remains above its key moving averages and still carries a generally constructive analyst backdrop, which may help cushion downside concerns.

Institutional Investors Weigh In On Global-e Online

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLBE. Wasatch Advisors LP grew its position in Global-e Online by 34.0% in the first quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock valued at $199,247,000 after acquiring an additional 1,637,482 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $230,842,000 after acquiring an additional 2,387,242 shares during the last quarter. Contour Asset Management LLC boosted its stake in shares of Global-e Online by 4.6% in the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock valued at $190,342,000 after purchasing an additional 211,034 shares in the last quarter. Arohi Asset Management PTE Ltd. boosted its stake in shares of Global-e Online by 0.6% in the 4th quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock valued at $148,604,000 after purchasing an additional 23,213 shares in the last quarter. Finally, Spyglass Capital Management LLC grew its holdings in shares of Global-e Online by 63.0% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock valued at $96,665,000 after purchasing an additional 1,044,960 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

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.