Brown Capital Management LLC Purchases 216,304 Shares of Global-e Online Ltd. $GLBE

Brown Capital Management LLC increased its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,389,842 shares of the company’s stock after acquiring an additional 216,304 shares during the period. Global-e Online comprises 3.5% of Brown Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Brown Capital Management LLC’s holdings in Global-e Online were worth $85,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLBE. Geneos Wealth Management Inc. boosted its holdings in Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares during the period. Virtus Advisers LLC acquired a new stake in Global-e Online in the 2nd quarter valued at about $47,000. Tower Research Capital LLC TRC boosted its stake in shares of Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after buying an additional 1,616 shares during the period. Jones Financial Companies Lllp grew its position in shares of Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after buying an additional 1,376 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its stake in shares of Global-e Online by 46.8% during the second quarter. State of Tennessee Department of Treasury now owns 3,975 shares of the company’s stock worth $133,000 after buying an additional 1,267 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GLBE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. Piper Sandler cut Global-e Online from an “overweight” rating to a “mixed” rating in a research report on Monday. Needham & Company LLC increased their price target on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. The Goldman Sachs Group increased their price objective on Global-e Online from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Benchmark reiterated a “buy” rating on shares of Global-e Online in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.09.

Global-e Online Stock Performance

Shares of GLBE stock opened at $36.55 on Tuesday. The stock has a fifty day moving average price of $39.12 and a 200 day moving average price of $36.30. The stock has a market cap of $6.20 billion, a PE ratio of 1,218.74 and a beta of 1.24. Global-e Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $220.78 million during the quarter, compared to analysts’ expectations of $217.95 million. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The business’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) earnings per share. As a group, equities research analysts predict that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Global-e Online Company Profile

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.