Granahan Investment Management LLC Sells 644,923 Shares of Global-e Online Ltd. $GLBE

Granahan Investment Management LLC lowered its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 54.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 546,969 shares of the company’s stock after selling 644,923 shares during the period. Granahan Investment Management LLC’s holdings in Global-e Online were worth $16,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after acquiring an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Global-e Online during the 4th quarter worth approximately $39,000. Geneos Wealth Management Inc. boosted its stake in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after purchasing an additional 1,616 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in Global-e Online during the fourth quarter valued at approximately $72,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Global-e Online in a research note on Wednesday, May 13th. Needham & Company LLC reissued a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. Jefferies Financial Group reissued a “buy” rating and issued a $40.00 price target on shares of Global-e Online in a report on Wednesday, May 13th. Morgan Stanley lowered their price objective on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Finally, Zacks Research downgraded Global-e Online from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.50.

Global-e Online Stock Performance

Shares of GLBE opened at $36.21 on Friday. The stock has a 50 day simple moving average of $33.85 and a 200 day simple moving average of $33.81. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $41.94. The firm has a market capitalization of $6.15 billion, a PE ratio of 55.71 and a beta of 1.06.

Insiders Place Their Bets

In other news, President Nir Debbi sold 8,332 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $35.82, for a total value of $298,452.24. Following the completion of the transaction, the president owned 4,534,449 shares in the company, valued at $162,423,963.18. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amir Schlachet sold 24,999 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $37.09, for a total transaction of $927,212.91. Following the sale, the chief executive officer directly owned 4,116,728 shares of the company’s stock, valued at $152,689,441.52. This represents a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 319,914 shares of company stock worth $10,989,302. Company insiders own 11.60% of the company’s stock.

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.