Key Points
- Global-e Online CFO Ofer Koren sold 12,500 shares at an average price of $36.68, generating $458,500. After the transaction, he retained 153,189 shares, a 7.54% reduction in his position.
- Global-e Online reported quarterly earnings of $0.37 per share on revenue of $299 million. Shares opened at $37.49, with a 52-week range of $26.84 to $43.99.
- Institutional investors own 94.6% of the stock, while analysts maintain a “Moderate Buy” consensus with an average price target of $47.69.
Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CFO Ofer Koren sold 12,500 shares of Global-e Online stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $36.68, for a total value of $458,500.00. Following the completion of the sale, the chief financial officer directly owned 153,189 shares of the company's stock, valued at approximately $5,618,972.52. This trade represents a 7.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Global-e Online Stock Performance
Shares of Global-e Online stock opened at $37.49 on Tuesday. The stock has a market capitalization of $6.36 billion, a P/E ratio of 43.59 and a beta of 1.00. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $43.99. The stock's 50-day simple moving average is $38.92 and its 200 day simple moving average is $34.68.
Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. The firm had revenue of $299.00 million during the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. Equities research analysts forecast that Global-e Online Ltd. will post 1.32 EPS for the current fiscal year.
Institutional Trading of Global-e Online
Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in Global-e Online by 3,399.9% in the 2nd quarter. California State Teachers Retirement System now owns 4,066,709 shares of the company's stock valued at $141,237,000 after purchasing an additional 3,950,515 shares during the period. Wellington Management Group LLP raised its position in shares of Global-e Online by 3,232.4% in the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company's stock worth $72,968,000 after buying an additional 2,037,962 shares in the last quarter. Wasatch Advisors LP boosted its stake in Global-e Online by 28.1% during the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company's stock valued at $287,397,000 after buying an additional 1,816,606 shares during the period. Norges Bank bought a new stake in Global-e Online during the fourth quarter valued at $51,104,000. Finally, Bienville Capital Management LLC purchased a new position in Global-e Online during the second quarter worth about $13,021,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on GLBE. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an "accumulate" rating in a report on Wednesday, May 27th. The Goldman Sachs Group reissued a "buy" rating on shares of Global-e Online in a report on Wednesday, August 12th. Morgan Stanley increased their target price on Global-e Online from $44.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. Citigroup reaffirmed a "market outperform" rating on shares of Global-e Online in a report on Thursday, August 13th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $48.00 price target on shares of Global-e Online in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Global-e Online currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.69.
Read Our Latest Research Report on Global-e Online
Global-e Online Company Profile
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
