Wall Street Zen Downgrades Global-e Online (NASDAQ:GLBE) to Hold

Global-e Online (NASDAQ:GLBE) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other research firms also recently weighed in on GLBE. Benchmark increased their price objective on Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Truist Financial lowered their price objective on shares of Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Zacks Research upgraded Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. Finally, Morgan Stanley restated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.80.

Global-e Online Stock Down 4.9%

Shares of GLBE stock opened at $32.34 on Friday. Global-e Online has a twelve month low of $26.64 and a twelve month high of $43.21. The stock’s fifty day simple moving average is $35.26 and its 200 day simple moving average is $36.46. The firm has a market capitalization of $5.49 billion, a P/E ratio of 87.41 and a beta of 1.24.

Insider Activity at Global-e Online

In related news, CEO Amir Schlachet sold 16,666 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total value of $574,143.70. Following the sale, the chief executive officer directly owned 3,562,787 shares of the company’s stock, valued at $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Shahar Tamari sold 16,666 shares of Global-e Online stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total transaction of $563,477.46. Following the transaction, the chief operating officer owned 3,419,745 shares of the company’s stock, valued at $115,621,578.45. The trade was 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 90 days. 11.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Global-e Online

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLBE. Caitong International Asset Management Co. Ltd purchased a new stake in Global-e Online in the 4th quarter worth $39,000. IFP Advisors Inc increased its position in Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after acquiring an additional 448 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares during the period. Virtus Advisers LLC bought a new stake in shares of Global-e Online during the 2nd quarter worth approximately $47,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after purchasing an additional 1,616 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other 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.