Wasatch Advisors LP Grows Stake in Global-e Online Ltd. $GLBE

Wasatch Advisors LP grew its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 34.0% during the first quarter, HoldingsChannel reports. The firm owned 6,458,588 shares of the company’s stock after buying an additional 1,637,482 shares during the period. Global-e Online accounts for 1.3% of Wasatch Advisors LP’s portfolio, making the stock its 26th largest position. Wasatch Advisors LP’s holdings in Global-e Online were worth $199,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GLBE. Price T Rowe Associates Inc. MD grew its stake in shares of 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 in the last quarter. Janus Henderson Group PLC lifted its position in Global-e Online by 1,539.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock worth $89,213,000 after acquiring an additional 2,131,047 shares in the last quarter. Arohi Asset Management PTE Ltd. lifted its position in Global-e Online by 91.0% during the 2nd quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock worth $94,680,000 after acquiring an additional 1,345,156 shares in the last quarter. Norges Bank purchased a new position in Global-e Online in the 4th quarter worth approximately $51,104,000. Finally, Menora Mivtachim Holdings LTD. boosted its holdings in Global-e Online by 4,543.4% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,296,424 shares of the company’s stock worth $46,360,000 after acquiring an additional 1,268,504 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLBE has been the topic of a number of analyst reports. BMO Capital Markets began coverage on shares of Global-e Online in a research note on Tuesday, April 21st. They set an “outperform” rating and a $42.00 price objective on the stock. Truist Financial upgraded shares of Global-e Online from a “hold” rating to a “buy” rating and upped their target price for the company from $34.00 to $39.00 in a research note on Wednesday, June 10th. Jefferies Financial Group restated a “buy” rating and issued a $40.00 target price on shares of Global-e Online in a research note on Wednesday, May 13th. Needham & Company LLC reaffirmed a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 price target on shares of Global-e Online in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

Global-e Online Stock Performance

Shares of Global-e Online stock opened at $36.41 on Friday. The firm has a market cap of $6.18 billion, a PE ratio of 56.02 and a beta of 1.16. The firm’s 50-day simple moving average is $31.57 and its 200-day simple moving average is $34.17. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year 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 the consensus estimate of $250.78 million. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) earnings per share. On average, equities analysts predict that Global-e Online Ltd. will post 1.11 earnings per share for the current year.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $32.18, for a total transaction of $536,311.88. Following the transaction, the chief executive officer owned 4,200,058 shares of the company’s stock, valued at $135,157,866.44. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Nir Debbi sold 6,890 shares of Global-e Online stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $34.02, for a total value of $234,397.80. Following the completion of the transaction, the president owned 4,547,961 shares of the company’s stock, valued at approximately $154,721,633.22. The trade was a 0.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 250,944 shares of company stock worth $8,202,198 over the last quarter. 11.60% of the stock is owned by corporate 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.