Global-e Online Ltd. $GLBE Shares Acquired by Keenan Capital LLC

Keenan Capital LLC grew its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,955,262 shares of the company’s stock after purchasing an additional 90,000 shares during the quarter. Global-e Online comprises approximately 13.4% of Keenan Capital LLC’s investment portfolio, making the stock its 2nd largest position. Keenan Capital LLC’s holdings in Global-e Online were worth $67,906,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Global-e Online by 3,399.9% in the 2nd quarter. California State Teachers Retirement System now owns 4,066,709 shares of the company’s stock valued at $141,237,000 after purchasing an additional 3,950,515 shares during the last quarter. Wasatch Advisors LP raised its stake in Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after buying an additional 2,392,124 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after buying an additional 2,387,242 shares during the period. Janus Henderson Group PLC lifted its holdings in Global-e Online by 1,539.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock valued at $89,213,000 after buying an additional 2,131,047 shares during the period. Finally, Wellington Management Group LLP boosted its position in Global-e Online by 3,232.4% during the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock valued at $72,968,000 after acquiring an additional 2,037,962 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Global-e Online Trading Down 3.8%

GLBE opened at $36.93 on Wednesday. Global-e Online Ltd. has a 1-year low of $26.84 and a 1-year high of $43.99. The company has a market cap of $6.27 billion, a P/E ratio of 42.94 and a beta of 1.00. The company has a fifty day moving average price of $38.91 and a two-hundred day moving average price of $34.63.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $299.00 million for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. On average, research analysts forecast that Global-e Online Ltd. will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Amir Schlachet sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following 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 represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 28,623 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the sale, the chief operating officer directly owned 3,956,685 shares of the company’s stock, valued at $142,519,793.70. This trade represents a 0.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 658,374 shares of company stock worth $26,046,181. 11.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Global-e Online in a research report on Wednesday, August 12th. Benchmark restated a “buy” rating on shares of Global-e Online in a research report on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 target price on shares of Global-e Online in a research note on Tuesday, September 1st. Piper Sandler reiterated an “overweight” rating and issued a $48.00 target price on shares of Global-e Online in a report on Tuesday, August 11th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $48.00 price target on shares of Global-e Online in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.69.

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.