Global-e Online (NASDAQ:GLBE) CFO Sells 50,000 Shares of Stock

by · The Markets Daily

Global-e Online Ltd. (NASDAQ:GLBE – Get Free Report) CFO Ofer Koren sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $41.23, for a total transaction of $2,061,500.00. Following the sale, the chief financial officer owned 153,189 shares of the company’s stock, valued at $6,315,982.47. This represents a 24.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ofer Koren also recently made the following trade(s):

  • On Thursday, September 17th, Ofer Koren sold 12,200 shares of Global-e Online stock. The shares were sold at an average price of $38.07, for a total transaction of $464,454.00.
  • On Monday, September 14th, Ofer Koren sold 300 shares of Global-e Online stock. The shares were sold at an average price of $38.00, for a total value of $11,400.00.
  • On Tuesday, September 8th, Ofer Koren sold 12,500 shares of Global-e Online stock. The stock was sold at an average price of $36.68, for a total value of $458,500.00.

Global-e Online Trading Down 1.0%

GLBE stock traded down $0.42 during midday trading on Thursday, hitting $40.81. 847,350 shares of the company’s stock were exchanged, compared to its average volume of 1,557,504. Global-e Online Ltd. has a 1-year low of $26.84 and a 1-year high of $43.99. The stock has a market capitalization of $6.93 billion, a PE ratio of 47.46 and a beta of 1.00. The business has a 50-day simple moving average of $39.05 and a two-hundred day simple moving average of $34.85.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GLBE. The Goldman Sachs Group reissued a “buy” rating on shares of Global-e Online in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Global-e Online from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a report on Wednesday, May 27th. UBS Group set a $54.00 price target on Global-e Online and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Raymond James Financial restated an “outperform” rating and set a $48.00 price target on shares of Global-e Online in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.69.

View Our Latest Stock Analysis on Global-e Online

Institutional Investors Weigh In On Global-e Online

A number of hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its position in shares of Global-e Online by 28.1% during the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after acquiring an additional 1,816,606 shares during the period. Contour Asset Management LLC grew its stake in 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 purchasing an additional 211,034 shares in the last quarter. Wellington Management Group LLP grew its stake in Global-e Online by 3,232.4% during the 2nd quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock worth $72,968,000 after purchasing an additional 2,037,962 shares in the last quarter. Janus Henderson Group PLC increased its holdings in 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 worth $72,833,000 after purchasing an additional 91,384 shares during the period. Finally, Spyglass Capital Management LLC increased its holdings in Global-e Online by 1.1% during the 2nd quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company’s stock worth $68,015,000 after purchasing an additional 20,610 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

About Global-e Online

(Get Free Report)

Global-e Online Ltd. (NASDAQ: GLBE) provides a software platform that enables merchants and brands to sell products internationally through localized e-commerce experiences. Its technology is designed to help businesses manage the operational and regulatory complexities of cross-border online commerce while presenting shoppers with familiar purchasing experiences in their local markets.

The company’s services include localized websites and checkout experiences, support for multiple currencies and payment methods, international shipping options, calculation and collection of duties and taxes, fraud prevention, returns management, and analytics.

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