Global-e Online Ltd. $GLBE Position Increased by Spyglass Capital Management LLC

Spyglass Capital Management LLC boosted its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,958,379 shares of the company’s stock after purchasing an additional 20,610 shares during the period. Global-e Online accounts for approximately 3.7% of Spyglass Capital Management LLC’s portfolio, making the stock its 14th biggest position. Spyglass Capital Management LLC owned about 1.15% of Global-e Online worth $68,015,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after purchasing an additional 448 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after buying an additional 528 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Global-e Online by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 116,092 shares of the company’s stock valued at $4,564,000 after buying an additional 533 shares in the last quarter. Main Management ETF Advisors LLC increased its holdings 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 worth $2,062,000 after buying an additional 536 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Global-e Online by 8.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,224 shares of the company’s stock worth $286,000 after buying an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Insider Buying and Selling at Global-e Online

In other news, COO Shahar Tamari sold 28,623 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $36.02, for a total value of $1,031,000.46. Following the sale, the chief operating officer directly owned 3,956,685 shares of the company’s stock, valued at approximately $142,519,793.70. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amir Schlachet sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00. Following the completion of the sale, the chief executive officer directly owned 3,965,422 shares in the company, valued at approximately $167,340,808.40. This represents a 2.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 616,482 shares of company stock worth $24,348,806 in the last quarter. Insiders own 11.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLBE has been the subject of a number of analyst reports. Loop Capital set a $49.00 target price on shares of Global-e Online in a research note on Wednesday, August 12th. Raymond James Financial restated an “outperform” rating and set a $48.00 price target on shares of Global-e Online in a research note on Thursday, August 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $48.00 price objective on shares of Global-e Online in a report on Wednesday, August 12th. Weiss Ratings raised shares of Global-e Online from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Finally, Citigroup restated a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.69.

Global-e Online Stock Down 6.5%

Shares of GLBE stock opened at $37.35 on Tuesday. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $43.99. The business’s 50 day moving average is $38.50 and its two-hundred day moving average is $34.39. The company has a market cap of $6.34 billion, a PE ratio of 43.43 and a beta of 1.03.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 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%. As a group, equities analysts expect that Global-e Online Ltd. will post 1.32 EPS for the current fiscal year.

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.