Global-e Online Ltd. $GLBE Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 30.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,713 shares of the company’s stock after selling 12,782 shares during the quarter. ProShare Advisors LLC’s holdings in Global-e Online were worth $1,141,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GLBE. Signaturefd LLC boosted its holdings in Global-e Online by 58.5% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $38,000 after buying an additional 354 shares in the last quarter. MCF Advisors LLC increased its holdings in Global-e Online by 62.4% in the second quarter. MCF Advisors LLC now owns 1,437 shares of the company’s stock valued at $50,000 after buying an additional 552 shares in the last quarter. Seelaus Asset Management LLC purchased a new position in Global-e Online in the first quarter valued at $231,000. Lombard Odier Asset Management USA Corp purchased a new position in Global-e Online in the first quarter valued at $239,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Global-e Online by 8.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,224 shares of the company’s stock worth $286,000 after acquiring an additional 631 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Global-e Online

In related news, COO Shahar Tamari sold 27,957 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $44.48, for a total transaction of $1,243,527.36. Following the completion of the transaction, the chief operating officer owned 3,728,736 shares in the company, valued at approximately $165,854,177.28. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Nir Debbi sold 18,069 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $44.51, for a total transaction of $804,251.19. Following the transaction, the president owned 4,224,724 shares in the company, valued at approximately $188,042,465.24. This trade represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 742,889 shares of company stock worth $30,637,208. Insiders own 11.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their target price on shares of Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. UBS Group set a $54.00 price target on Global-e Online and gave the company a “buy” rating in a research note on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $47.00 price target on shares of Global-e Online in a report on Tuesday, September 1st. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Global-e Online in a report on Thursday, August 13th. Finally, Loop Capital set a $49.00 price target on Global-e Online in a research report on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Global-e Online presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

Key Global-e Online News

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

• Positive Sentiment: Analyst coverage cited in a recent report remains broadly favorable: 13 analysts rated GLBE Buy and three Hold, with an average price target of $48.08. Insider trading report
• Negative Sentiment: President Nir Debbi sold a combined 132,651 shares in transactions from November 2–5, while COO Shahar Tamari sold 28,228 shares on November 4–5. The sales may weigh on sentiment, although both executives retain multi-million-share holdings and the reported reductions were small relative to their positions. SEC filing for President’s trades SEC filing for COO’s trades

Global-e Online Price Performance

Shares of GLBE stock traded down $0.36 during trading on Friday, hitting $42.97. 895,483 shares of the stock traded hands, compared to its average volume of 1,321,050. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $45.28. The firm has a market capitalization of $7.29 billion, a P/E ratio of 49.97 and a beta of 1.10. The firm’s fifty day moving average price is $39.81 and its 200-day moving average price is $35.84.

Global-e Online (NASDAQ:GLBE) last posted its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. The company had revenue of $299.00 million during the quarter. As a group, equities research analysts expect that Global-e Online Ltd. will post 1.32 earnings per share for the current year.

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.

The company’s platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.

Founded in 2013, Global-e serves merchants and shoppers across international markets.