Hsbc Holdings PLC Makes New Investment in Global-e Online Ltd. $GLBE

Hsbc Holdings PLC bought a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 104,347 shares of the company’s stock, valued at approximately $3,175,000.

Several other institutional investors and hedge funds have also made changes to their positions in GLBE. IFP Advisors Inc boosted its position 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 purchasing an additional 448 shares during the period. Geneos Wealth Management Inc. increased its position in Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares during the period. California State Teachers Retirement System increased its position in Global-e Online by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 116,092 shares of the company’s stock worth $4,564,000 after buying an additional 533 shares during the period. Main Management ETF Advisors LLC lifted its stake in Global-e Online by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 52,461 shares of the company’s stock valued at $2,062,000 after buying an additional 536 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Global-e Online in the fourth quarter valued at approximately $39,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GLBE shares. UBS Group lowered their target price on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Weiss Ratings downgraded shares of Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Benchmark reiterated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Global-e Online Stock Up 5.0%

GLBE opened at $36.21 on Friday. The business has a 50 day moving average price of $33.85 and a two-hundred day moving average price of $33.81. The company has a market cap of $6.15 billion, a PE ratio of 55.71 and a beta of 1.06. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94.

Insider Buying and Selling at Global-e Online

In other news, CEO Amir Schlachet sold 58,331 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $36.21, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Nir Debbi sold 9,233 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $33.70, for a total value of $311,152.10. Following the sale, the president directly owned 4,559,466 shares of the company’s stock, valued at approximately $153,654,004.20. This represents a 0.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 319,914 shares of company stock worth $10,989,302. 11.60% of the stock is currently owned by insiders.

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.