Global-e Online (NASDAQ:GLBE) CEO Sells $2,112,165.51 in Stock

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 58,331 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $36.21, for a total value of $2,112,165.51. Following the completion of the sale, the chief executive officer owned 4,141,727 shares in the company, valued at $149,971,934.67. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, July 2nd, Amir Schlachet sold 24,999 shares of Global-e Online stock. The shares were sold at an average price of $37.09, for a total value of $927,212.91.
• On Tuesday, June 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The shares were sold at an average price of $32.18, for a total transaction of $536,311.88.
• On Monday, June 1st, Amir Schlachet sold 8,333 shares of Global-e Online stock. The shares were sold at an average price of $33.58, for a total transaction of $279,822.14.
• On Tuesday, June 2nd, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was 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 stock was 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 stock was sold at an average price of $32.45, for a total transaction of $200,995.30.
• On Wednesday, May 6th, Amir Schlachet sold 1,022 shares of Global-e Online stock. The stock was sold at an average price of $31.27, for a total transaction 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 transaction of $299,376.00.
• On Thursday, April 16th, Amir Schlachet sold 16,666 shares of Global-e Online stock. The stock was sold at an average price of $33.65, for a total transaction 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.

Global-e Online Price Performance

GLBE opened at $35.98 on Thursday. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $41.94. The company’s 50 day simple moving average is $32.16 and its 200-day simple moving average is $33.95. The stock has a market capitalization of $6.11 billion, a P/E ratio of 55.35 and a beta of 1.06.

Analysts Set New Price Targets

GLBE has been the subject of several research reports. BMO Capital Markets initiated coverage on Global-e Online in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 target price for the company. Needham & Company LLC reiterated a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. Truist Financial upgraded Global-e Online from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $39.00 in a research report on Wednesday, June 10th. Raymond James Financial reiterated an “outperform” rating and issued a $42.00 price objective on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, UBS Group cut their target price on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Global-e Online presently has an average rating of “Moderate Buy” and a consensus price target of $44.33.

Institutional Trading of Global-e Online

Several institutional investors and hedge funds have recently made changes to their positions in GLBE. Wasatch Advisors LP boosted its position in shares of Global-e Online by 34.0% in the 1st quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock worth $199,247,000 after purchasing an additional 1,637,482 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Global-e Online by 68.5% during 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 buying an additional 2,387,242 shares during the last quarter. Contour Asset Management LLC grew its position in shares of Global-e Online by 4.6% during the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after buying an additional 211,034 shares during the period. Arohi Asset Management PTE Ltd. increased 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 acquiring an additional 23,213 shares during the last quarter. Finally, Spyglass Capital Management LLC increased its stake in shares of Global-e Online by 63.0% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock valued at $96,665,000 after acquiring an additional 1,044,960 shares during the last quarter. Institutional investors 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.