Global-e Online’s (GLBE) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Global-e Online (NASDAQ:GLBE) in a research report report published on Wednesday, MarketBeat.com reports. Piper Sandler currently has a $48.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Zacks Research downgraded Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Bank of America initiated coverage on shares of Global-e Online in a report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price target on the stock. Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. BMO Capital Markets started coverage on shares of Global-e Online in a report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Global-e Online Price Performance

GLBE opened at $39.31 on Wednesday. Global-e Online has a one year low of $26.84 and a one year high of $41.94. The business has a 50 day simple moving average of $34.82 and a two-hundred day simple moving average of $33.80. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 60.48 and a beta of 1.06.

Insider Buying and Selling at Global-e Online

In other news, CEO Amir Schlachet sold 58,331 shares of Global-e Online stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.21, for a total transaction of $2,112,165.51. Following the completion of the transaction, the chief executive officer directly owned 4,141,727 shares in the company, valued at approximately $149,971,934.67. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Nir Debbi sold 9,233 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $33.70, for a total value of $311,152.10. Following the completion of the sale, the president directly owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. This represents a 0.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 319,914 shares of company stock valued at $10,989,302. Corporate insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On Global-e Online

Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in shares of Global-e Online by 105.3% during the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock valued at $22,727,000 after acquiring an additional 296,466 shares in the last quarter. Annex Advisory Services LLC lifted its position in Global-e Online by 64.4% in the 4th quarter. Annex Advisory Services LLC now owns 640,016 shares of the company’s stock valued at $25,159,000 after acquiring an additional 250,625 shares in the last quarter. Vitruvian Partners LLP lifted its position in Global-e Online by 21.9% in the 4th quarter. Vitruvian Partners LLP now owns 210,209 shares of the company’s stock valued at $8,263,000 after acquiring an additional 37,767 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Global-e Online by 51.7% during the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company’s stock valued at $4,484,000 after purchasing an additional 38,869 shares during the last quarter. Finally, Next Century Growth Investors LLC boosted its stake in Global-e Online by 38.6% during the 4th quarter. Next Century Growth Investors LLC now owns 274,708 shares of the company’s stock valued at $10,799,000 after purchasing an additional 76,452 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.