Y.D. More Investments Ltd Reduces Stock Position in Global-e Online Ltd. $GLBE

Y.D. More Investments Ltd lessened its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 89.7% in the first quarter, HoldingsChannel reports. The firm owned 8,500 shares of the company’s stock after selling 74,050 shares during the period. Y.D. More Investments Ltd’s holdings in Global-e Online were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in shares of Global-e Online during the 1st quarter valued at $3,175,000. Seelaus Asset Management LLC bought a new stake in shares of Global-e Online in the first quarter worth $231,000. Bronte Capital Management Pty Ltd. purchased a new stake in Global-e Online during the first quarter valued at $6,574,000. Pictet Asset Management Holding SA increased its position in Global-e Online by 5.0% during the first quarter. Pictet Asset Management Holding SA now owns 28,002 shares of the company’s stock valued at $864,000 after acquiring an additional 1,321 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in Global-e Online by 34.0% during the first quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock valued at $199,247,000 after acquiring an additional 1,637,482 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLBE has been the topic of several research reports. Bank of America started coverage on Global-e Online in a research report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 target price on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. Truist Financial upgraded shares of Global-e Online from a “hold” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $39.00 in a research note on Wednesday, June 10th. Zacks Research downgraded shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, Needham & Company LLC restated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. One investment 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, Global-e Online currently has an average rating of “Moderate Buy” and a consensus target price of $44.33.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, CEO Amir Schlachet sold 58,331 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $36.21, for a total value of $2,112,165.51. Following the completion of the sale, the chief executive officer owned 4,141,727 shares in the company, valued at $149,971,934.67. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Shahar Tamari sold 28,623 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the transaction, the chief operating officer directly owned 3,956,685 shares in the company, valued at $142,519,793.70. This trade represents a 0.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 387,953 shares of company stock worth $13,305,459 over the last quarter. 11.60% of the stock is owned by company insiders.

Global-e Online Price Performance

NASDAQ:GLBE opened at $38.68 on Tuesday. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 59.51 and a beta of 1.06. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $41.94. The business has a fifty day moving average price of $32.57 and a 200-day moving average price of $33.92.

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.