Key Points
- Global-e Online CFO Ofer Koren sold 50,000 shares at an average price of $41.23, generating $2.06 million and reducing his direct ownership by 24.61% to 153,189 shares. He also made three earlier sales in September.
- GLBE shares opened at $40.88, with the company valued at approximately $6.94 billion. Global-e reported quarterly revenue of $299 million and EPS of $0.37, while analysts expect $1.32 in full-year EPS.
- Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $47.69. Institutional investors own 94.6% of the company’s stock.
Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) CFO Ofer Koren sold 50,000 shares of the company's stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $41.23, for a total value of $2,061,500.00. Following the transaction, the chief financial officer directly owned 153,189 shares of the company's stock, valued at $6,315,982.47. This represents a 24.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
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 value of $464,454.00.
- On Monday, September 14th, Ofer Koren sold 300 shares of Global-e Online stock. The stock was 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 transaction of $458,500.00.
Global-e Online Stock Down 0.9%
NASDAQ GLBE opened at $40.88 on Friday. The firm's 50 day moving average is $39.10 and its 200-day moving average is $34.89. The company has a market capitalization of $6.94 billion, a PE ratio of 47.54 and a beta of 1.00. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $43.99.
Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The business 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%. As a group, sell-side analysts expect that Global-e Online Ltd. will post 1.32 EPS for the current year.
Analyst Ratings Changes
Several equities analysts have recently weighed in on GLBE shares. BMO Capital Markets raised their price objective on Global-e Online from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Piper Sandler reiterated an "overweight" rating and set a $48.00 target price on shares of Global-e Online in a report on Tuesday, August 11th. UBS Group set a $54.00 price target on Global-e Online and gave the company a "buy" rating in a research report on Thursday, August 13th. Morgan Stanley raised their price target on Global-e Online from $44.00 to $46.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. Finally, Zacks Research raised Global-e Online from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 25th. 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.69.
Read Our Latest Analysis on Global-e Online
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. MCF Advisors LLC increased its stake in shares of Global-e Online by 62.4% during the 2nd quarter. MCF Advisors LLC now owns 1,437 shares of the company's stock worth $50,000 after purchasing an additional 552 shares during the last quarter. Royce & Associates LP acquired a new stake in Global-e Online in the 4th quarter valued at about $204,000. PNC Financial Services Group Inc. lifted its stake in Global-e Online by 87.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,546 shares of the company's stock valued at $218,000 after purchasing an additional 2,592 shares during the last quarter. Seelaus Asset Management LLC bought a new position in Global-e Online during the first quarter worth about $231,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in Global-e Online during the first quarter worth about $239,000. 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.
Further Reading
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