Global-e Online (NASDAQ:GLBE) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Global-e Online (NASDAQ:GLBE) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other research firms have also recently issued reports on GLBE. Bank of America reiterated a “buy” rating on shares of Global-e Online in a research report on Wednesday, February 18th. KeyCorp cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Global-e Online in a research note on Monday, December 29th. Benchmark increased their price objective on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Zacks Research upgraded Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Global-e Online has an average rating of “Moderate Buy” and an average price target of $47.80.

Global-e Online Trading Down 0.3%

Shares of GLBE opened at $32.24 on Friday. The business’s 50 day moving average is $35.08 and its 200 day moving average is $36.49. Global-e Online has a 12-month low of $26.64 and a 12-month high of $43.21. The company has a market capitalization of $5.47 billion, a PE ratio of 87.14 and a beta of 1.24.

Insider Transactions at Global-e Online

In other news, COO Shahar Tamari sold 16,666 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total transaction of $563,477.46. Following the transaction, the chief operating officer owned 3,419,745 shares of the company’s stock, valued at approximately $115,621,578.45. The trade was a 0.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Nir Debbi sold 8,332 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $34.51, for a total value of $287,537.32. Following the sale, the president owned 3,897,506 shares in the company, valued at $134,502,932.06. The trade was a 0.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 41,664 shares of company stock worth $1,425,158. 11.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global-e Online

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after buying an additional 448 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online during the fourth quarter worth $39,000. Virtus Advisers LLC purchased a new stake in shares of Global-e Online during the second quarter valued at $47,000. Geneos Wealth Management Inc. boosted its stake in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of 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 during the last quarter. Hedge funds and other 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.