Insider Selling: Global-e Online (NASDAQ:GLBE) CEO Sells 58,331 Shares

Global-e Online Ltd. (NASDAQ:GLBE) CEO Amir Schlachet sold 58,331 shares of the 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 transaction, the chief executive officer directly owned 4,141,727 shares of the company’s stock, valued at approximately $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 SEC, which is available 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 value of $536,311.88.
• 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 value 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 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 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

NASDAQ GLBE opened at $36.85 on Monday. The firm has a market cap of $6.25 billion, a P/E ratio of 56.69 and a beta of 1.06. The company’s 50 day moving average is $31.85 and its 200-day moving average is $34.02. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $41.94.

Institutional Trading of Global-e Online

Several institutional investors and hedge funds have recently bought and sold shares of GLBE. Bank of America Corp DE boosted its holdings in Global-e Online by 90.1% in the 1st quarter. Bank of America Corp DE now owns 330,418 shares of the company’s stock valued at $10,193,000 after purchasing an additional 156,641 shares during the period. Janus Henderson Group PLC grew its position in shares of Global-e Online by 4.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company’s stock valued at $72,833,000 after purchasing an additional 91,384 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Global-e Online by 2.8% in the first quarter. Royal Bank of Canada now owns 37,100 shares of the company’s stock worth $1,145,000 after purchasing an additional 996 shares during the period. Empowered Funds LLC bought a new position in shares of Global-e Online in the first quarter worth $1,144,000. Finally, Lazard Asset Management LLC raised its position in shares of Global-e Online by 4.7% in the first quarter. Lazard Asset Management LLC now owns 98,748 shares of the company’s stock worth $3,046,000 after buying an additional 4,428 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GLBE shares. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 price target 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 note on Tuesday, March 31st. They set a “buy” rating and a $43.00 price objective on the stock. Raymond James Financial restated an “outperform” rating and issued a $42.00 target price on shares of Global-e Online in a research note on Wednesday, May 13th. Finally, Truist Financial raised Global-e Online from a “hold” rating to a “buy” rating and lifted their target price for the company from $34.00 to $39.00 in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Global-e Online presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

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.