Goldman Sachs Group Inc. Has $90.99 Million Holdings in Global-e Online Ltd. $GLBE

Goldman Sachs Group Inc. cut its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 47.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,314,560 shares of the company’s stock after selling 2,089,113 shares during the period. Goldman Sachs Group Inc. owned approximately 1.36% of Global-e Online worth $90,985,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc grew its stake in shares of Global-e Online by 73.3% in 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 in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after acquiring an additional 528 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after acquiring an additional 1,616 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Global-e Online by 237.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock valued at $72,000 after acquiring an additional 1,376 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Global-e Online by 28.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock valued at $106,000 after acquiring an additional 649 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLBE has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 target price on shares of Global-e Online in a research report on Wednesday, May 13th. Piper Sandler reiterated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Weiss Ratings downgraded shares of Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.92.

Global-e Online Stock Up 0.7%

Shares of Global-e Online stock opened at $32.38 on Wednesday. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 49.82 and a beta of 1.16. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $41.94. The firm’s 50-day moving average price is $31.03 and its two-hundred day moving average price is $34.72.

Global-e Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share. On average, sell-side analysts expect that Global-e Online Ltd. will post 1.12 earnings per share for the current year.

Insider Transactions at Global-e Online

In other 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 value of $574,143.70. Following the completion of the transaction, the chief executive officer owned 3,562,787 shares of the company’s stock, valued at approximately $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 25,949 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $34.79, for a total transaction of $902,765.71. Following the completion of the transaction, the chief operating officer directly owned 3,790,225 shares of the company’s stock, valued at $131,861,927.75. This trade represents a 0.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 248,220 shares of company stock valued at $8,183,640. 11.60% of the stock is currently owned by insiders.

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.