Piper Sandler Reiterates Overweight Rating for Global-e Online (NASDAQ:GLBE)

Global-e Online (NASDAQ:GLBE)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $48.00 price target on the stock. Piper Sandler’s price target suggests a potential upside of 16.65% from the stock’s current price.

GLBE has been the subject of a number of other research reports. Truist Financial lifted their target price on shares of Global-e Online from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. BMO Capital Markets upped their price objective on Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Needham & Company LLC reissued a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Global-e Online in a research note on Wednesday, August 5th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.83.

Global-e Online Stock Down 2.8%

Shares of GLBE stock opened at $41.15 on Tuesday. The company has a 50 day moving average price of $36.10 and a 200-day moving average price of $33.88. Global-e Online has a 52 week low of $26.84 and a 52 week high of $42.51. The firm has a market capitalization of $6.98 billion, a PE ratio of 63.31 and a beta of 1.03.

Insider Buying and Selling at Global-e Online

In related news, CEO Amir Schlachet sold 100,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,965,422 shares of the company’s stock, valued at approximately $167,340,808.40. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Shahar Tamari sold 24,999 shares of Global-e Online stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.59, for a total transaction of $1,039,708.41. Following the completion of the sale, the chief operating officer owned 3,881,688 shares in the company, valued at approximately $161,439,403.92. This represents a 0.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 456,637 shares of company stock valued at $16,981,235 in the last three months. 11.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Global-e Online by 105.3% in the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock worth $22,727,000 after buying an additional 296,466 shares in the last quarter. Annex Advisory Services LLC grew its holdings in Global-e Online by 64.4% during the 4th quarter. Annex Advisory Services LLC now owns 640,016 shares of the company’s stock valued at $25,159,000 after buying an additional 250,625 shares in the last quarter. Vitruvian Partners LLP grew its holdings in Global-e Online by 21.9% during the 4th quarter. Vitruvian Partners LLP now owns 210,209 shares of the company’s stock valued at $8,263,000 after buying an additional 37,767 shares in the last quarter. Empowered Funds LLC bought a new stake in Global-e Online in the 1st quarter worth approximately $1,144,000. Finally, Handelsbanken Fonder AB increased its stake in Global-e Online by 51.7% in the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company’s stock worth $4,484,000 after acquiring an additional 38,869 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

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.