Global-e Online (NASDAQ:GLBE) Stock Moved Down to Hold by Zacks Research

Zacks Research lowered shares of Global-e Online (NASDAQ:GLBE – Free Report) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks reports.

Several other equities analysts also recently issued reports on GLBE. Benchmark restated a “buy” rating on shares of Global-e Online in a research note on Thursday, August 13th. Weiss Ratings upgraded Global-e Online from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $48.00 target price on shares of Global-e Online in a research report on Tuesday, August 11th. Citigroup reissued a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $48.00 target price on shares of Global-e Online in a research report on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Global-e Online presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Check Out Our Latest Stock Report on GLBE

Global-e Online Trading Down 0.1%

Shares of NASDAQ:GLBE opened at $39.00 on Monday. The firm has a 50 day simple moving average of $39.51 and a 200-day simple moving average of $35.43. Global-e Online has a twelve month low of $26.84 and a twelve month high of $43.99. The company has a market capitalization of $6.62 billion, a PE ratio of 45.35 and a beta of 0.98.

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

Insider Activity

In other Global-e Online news, CEO Amir Schlachet sold 100,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the transaction, the chief executive officer directly owned 3,965,422 shares of the company’s stock, valued at approximately $167,340,808.40. This trade represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Shahar Tamari sold 24,999 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $41.63, for a total value of $1,040,708.37. Following the completion of the transaction, the chief operating officer owned 3,856,689 shares in the company, valued at $160,553,963.07. This trade represents a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 658,319 shares of company stock valued at $26,838,705 in the last ninety days. 11.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global-e Online

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of 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 during the last quarter. Wasatch Advisors LP raised its position in shares of Global-e Online by 28.1% in 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 last quarter. Bienville Capital Management LLC acquired a new position in shares of Global-e Online in the second quarter valued at approximately $13,021,000. Renaissance Technologies LLC purchased a new position in shares of Global-e Online during the first quarter valued at approximately $8,512,000. Finally, Bronte Capital Management Pty Ltd. purchased a new position in shares of Global-e Online during the first quarter valued at approximately $6,574,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-e Online Company Profile

(Get Free Report)

Global-e Online Ltd. is an Israel-based technology company that provides an end-to-end platform for cross-border e-commerce. Its software helps retailers and brands sell directly to consumers in international markets by adapting online shopping experiences to local languages, currencies, payment methods, tax requirements and delivery preferences.

The company’s services support the international customer journey, including localized storefronts and checkout experiences, calculation and collection of duties and taxes, payment processing, fraud prevention, international shipping, order management and returns.

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Analyst Recommendations for Global-e Online (NASDAQ:GLBE)

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