Global-e Online Ltd. (NASDAQ:GLBE – Get Free Report) reached a new 52-week high during trading on Wednesday. The stock traded as high as $43.99 and last traded at $43.7150, with a volume of 178,724 shares. The stock had previously closed at $41.58.
Global-e Online News Roundup
Here are the key news stories impacting Global-e Online this week:
- Positive Sentiment: The article reports a “Moderate Buy” consensus from analysts and an average price target of $48.08. It also notes recent institutional buying, including Allspring Global Investments increasing its stake. Insider trading and analyst information
- Neutral Sentiment: Despite the reported sales, COO Shahar Tamari retained about 3.73 million shares and President Nir Debbi about 4.22 million shares after the transactions.
- Negative Sentiment: Recent SEC filings show both executives selling shares. Across the transactions reported for November 4–5, Tamari sold 28,228 shares and Debbi sold 118,069 shares, worth roughly $7.1 million combined. The sales could raise concerns about insider sentiment, although they represent a small portion of their remaining holdings. SEC filing for Shahar Tamari SEC filing for Nir Debbi
Analyst Ratings Changes
GLBE has been the topic of a number of research analyst reports. Citigroup restated a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price objective on shares of Global-e Online in a research note on Tuesday, August 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price objective on shares of Global-e Online in a research note on Wednesday, August 12th. BMO Capital Markets boosted their target price on shares of Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Finally, Truist Financial increased their target price on shares of Global-e Online from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.08.
Get Our Latest Stock Report on Global-e Online
Global-e Online Price Performance
The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 49.82 and a beta of 1.10. The company’s fifty day simple moving average is $39.74 and its two-hundred day simple moving average is $35.80.
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 company had revenue of $299.00 million during the quarter. On average, analysts forecast that Global-e Online Ltd. will post 1.32 earnings per share for the current year.
Insider Buying and Selling
In related news, President Nir Debbi sold 100,000 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $44.59, for a total value of $4,459,000.00. Following the completion of the sale, the president directly owned 4,242,793 shares of the company’s stock, valued at approximately $189,186,139.87. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 27,957 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $44.48, for a total value of $1,243,527.36. Following the transaction, the chief operating officer owned 3,728,736 shares in the company, valued at approximately $165,854,177.28. This trade represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 742,889 shares of company stock worth $30,637,208 in the last ninety days. Corporate insiders own 11.60% of the company’s stock.
Institutional Trading of Global-e Online
Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in Global-e Online by 65.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 189,962 shares of the company’s stock valued at $7,547,000 after purchasing an additional 75,299 shares during the period. R Squared Ltd bought a new stake in shares of Global-e Online during the 3rd quarter worth $247,000. Jacobi Capital Management LLC purchased a new position in shares of Global-e Online in the 3rd quarter worth about $48,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Global-e Online by 232.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 112,335 shares of the company’s stock worth $4,517,000 after buying an additional 78,584 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new position in shares of Global-e Online in the 3rd quarter worth about $709,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.
Global-e Online Company Profile
Global-e Online Ltd. (NASDAQ: GLBE) provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.
The company’s platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.
Founded in 2013, Global-e serves merchants and shoppers across international markets.
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