ING Groep NV Has $38.41 Million Holdings in Global-e Online Ltd. $GLBE

ING Groep NV lessened its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 977,000 shares of the company’s stock after selling 70,000 shares during the quarter. ING Groep NV’s holdings in Global-e Online were worth $38,406,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. IFP Advisors Inc increased its stake in shares of Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after buying an additional 448 shares during the period. Geneos Wealth Management Inc. raised its position in shares of 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 acquiring an additional 528 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 worth $61,000 after acquiring an additional 1,616 shares during the last quarter. Jones Financial Companies Lllp raised 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 acquiring an additional 1,376 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Global-e Online by 28.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock worth $106,000 after acquiring an additional 649 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Insiders Place Their Bets

In other Global-e Online news, COO Shahar Tamari sold 8,333 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $33.59, for a total value of $279,905.47. Following the completion of the sale, the chief operating officer directly owned 4,033,875 shares in the company, valued at approximately $135,497,861.25. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Nir Debbi sold 9,233 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $33.70, for a total transaction of $311,152.10. Following the completion of the sale, the president owned 4,559,466 shares of the company’s stock, valued at $153,654,004.20. The trade was a 0.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 231,554 shares of company stock worth $7,645,702. 11.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group lowered their price objective on Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Jefferies Financial Group restated a “buy” rating and set a $40.00 price objective on shares of Global-e Online in a research report on Wednesday, May 13th. Benchmark restated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. KeyCorp lowered their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.92.

Global-e Online Trading Down 2.3%

NASDAQ:GLBE opened at $32.13 on Friday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 49.43 and a beta of 1.16. The firm has a fifty day simple moving average of $30.94 and a two-hundred day simple moving average of $34.78. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $41.94.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period last year, the company posted ($0.11) earnings per share. Equities analysts predict that Global-e Online Ltd. will post 1.12 earnings per share for the current fiscal year.

Global-e Online 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.