Global-e Online (NASDAQ:GLBE) CFO Ofer Koren Sells 50,000 Shares of Stock

Global-e Online Ltd. (NASDAQ:GLBE) CFO Ofer Koren sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $41.23, for a total value of $2,061,500.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were sold at an average price of $36.68, for a total value of $458,500.00.

Global-e Online Stock Down 0.9%

Global-e Online stock opened at $40.88 on Friday. The stock has a 50-day simple moving average of $39.10 and a 200 day simple moving average of $34.89. The stock has a market capitalization of $6.94 billion, a price-to-earnings 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) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The firm had revenue of $299.00 million for 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 anticipate that Global-e Online Ltd. will post 1.32 EPS for the current year.

Analyst Upgrades and Downgrades

GLBE has been the subject of several research analyst reports. Piper Sandler restated an “overweight” rating and issued a $48.00 price objective on shares of Global-e Online in a research report on Tuesday, August 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Global-e Online in a research report on Wednesday, August 12th. Wall Street Zen upgraded Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Citigroup reaffirmed a “market outperform” rating on shares of Global-e Online in a research note on Thursday, August 13th. Finally, 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 report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.69.

Institutional Trading of Global-e Online

A number of institutional investors and hedge funds have recently modified their holdings of GLBE. MCF Advisors LLC grew its holdings in Global-e Online by 62.4% during the second quarter. MCF Advisors LLC now owns 1,437 shares of the company’s stock valued at $50,000 after purchasing an additional 552 shares during the period. Royce & Associates LP bought a new position in shares of Global-e Online during the fourth quarter worth $204,000. PNC Financial Services Group Inc. grew its holdings in shares of 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 buying an additional 2,592 shares during the period. Seelaus Asset Management LLC bought a new stake in shares of Global-e Online in the 1st quarter valued at $231,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Global-e Online in the 1st quarter valued at $239,000. 94.60% of the stock is owned by institutional investors.

About Global-e Online

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.