Key Points
- Insider selling: CFO Ofer Koren sold 300 Global-e Online shares for $11,400, reducing his ownership by 0.20% to 153,189 shares. He also sold 12,500 shares for $458,500 earlier in the month.
- Analyst outlook remains positive: Global-e Online has a consensus “Moderate Buy” rating and an average price target of $47.69, above its recent price near $36.93.
- Strong institutional ownership: Institutional investors own 94.60% of the company, with several major funds increasing their stakes, including Wasatch Advisors and Wellington Management.
Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CFO Ofer Koren sold 300 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $38.00, for a total transaction of $11,400.00. Following the completion of the sale, the chief financial officer owned 153,189 shares in the company, valued at $5,821,182. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Ofer Koren also recently made the following trade(s):
- 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 transaction of $458,500.00.
Global-e Online Stock Up 1.2%
NASDAQ GLBE opened at $36.93 on Thursday. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $43.99. The company has a 50 day moving average price of $38.93 and a 200 day moving average price of $34.69. The firm has a market cap of $6.27 billion, a PE ratio of 42.94 and a beta of 1.00.
Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The company had revenue of $299.00 million during the quarter. On average, equities research analysts anticipate that Global-e Online Ltd. will post 1.32 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have recently weighed in on GLBE. Citigroup reissued a "market outperform" rating on shares of Global-e Online in a research report on Thursday, August 13th. Jefferies Financial Group reaffirmed a "buy" rating and set a $48.00 target price on shares of Global-e Online in a research report on Wednesday, August 12th. Truist Financial increased their price target on Global-e Online from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, August 25th. Loop Capital set a $49.00 price target on Global-e Online in a report on Wednesday, August 12th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Global-e Online in a research note on Wednesday, August 12th. One 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.69.
Get Our Latest Stock Analysis on Global-e Online
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP lifted its stake 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 buying an additional 1,816,606 shares during the period. Contour Asset Management LLC grew its holdings in shares of Global-e Online by 4.6% during the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company's stock valued at $190,342,000 after buying an additional 211,034 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Global-e Online by 3,232.4% in the 2nd quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company's stock valued at $72,968,000 after acquiring an additional 2,037,962 shares during the period. Janus Henderson Group PLC increased its position in shares of Global-e Online by 4.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company's stock valued at $72,833,000 after acquiring an additional 91,384 shares during the period. Finally, Spyglass Capital Management LLC raised its stake in Global-e Online by 1.1% in the 2nd quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company's stock worth $68,015,000 after acquiring an additional 20,610 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.
Global-e Online Company Profile
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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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