Global-e Online (NASDAQ:GLBE) Downgraded to Hold Rating by Wall Street Zen
by Kim Johansen · The Markets DailyWall Street Zen lowered shares of Global-e Online (NASDAQ:GLBE – Free Report) from a buy rating to a hold rating in a research report released on Saturday morning.
GLBE has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Global-e Online in a research note on Monday, December 29th. KeyCorp decreased their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Needham & Company LLC raised their target price on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Benchmark lifted their price target on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Finally, Bank of America reiterated a “buy” rating on shares of Global-e Online in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Global-e Online presently has an average rating of “Moderate Buy” and an average target price of $47.80.
Get Our Latest Research Report on Global-e Online
Global-e Online Stock Performance
GLBE opened at $32.34 on Friday. Global-e Online has a fifty-two week low of $26.64 and a fifty-two week high of $43.21. The company has a market capitalization of $5.49 billion, a P/E ratio of 87.41 and a beta of 1.24. The stock has a fifty day moving average of $35.26 and a 200-day moving average of $36.49.
Insiders Place Their Bets
In other Global-e Online news, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total transaction of $574,143.70. Following the sale, the chief executive officer directly owned 3,562,787 shares in the company, valued at $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Shahar Tamari sold 16,666 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total transaction of $563,477.46. Following the completion of the transaction, the chief operating officer directly owned 3,419,745 shares in the company, valued at approximately $115,621,578.45. This represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,664 shares of company stock worth $1,425,158 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. North Peak Capital Management LLC bought a new stake in Global-e Online during the second quarter worth $88,481,000. Wasatch Advisors LP increased its stake in shares of Global-e Online by 231.8% in the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after purchasing an additional 2,392,124 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after purchasing an additional 2,387,242 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Global-e Online by 182.0% during the 2nd quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock worth $122,626,000 after buying an additional 2,359,435 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Global-e Online by 1,539.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock worth $89,213,000 after buying an additional 2,131,047 shares in the last quarter. 94.60% of the stock is owned by institutional investors.
About Global-e Online
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.