Tremblant Capital Group Boosts Holdings in Global-e Online Ltd. $GLBE

Tremblant Capital Group lifted its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 527,519 shares of the company’s stock after buying an additional 37,207 shares during the period. Global-e Online makes up approximately 1.9% of Tremblant Capital Group’s portfolio, making the stock its 24th largest position. Tremblant Capital Group’s holdings in Global-e Online were worth $18,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Virtus Advisers LLC acquired a new position in Global-e Online in the second quarter valued at approximately $47,000. Geneos Wealth Management Inc. increased its stake 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 acquiring an additional 528 shares during the last quarter. Tower Research Capital LLC TRC increased its stake 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 worth $61,000 after acquiring an additional 1,616 shares during the last quarter. Jones Financial Companies Lllp raised its position in Global-e Online by 237.7% in the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock valued at $72,000 after purchasing an additional 1,376 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Global-e Online by 28.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock valued at $106,000 after purchasing an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 29th. KeyCorp decreased their price objective on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Morgan Stanley reiterated an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Piper Sandler restated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.80.

Global-e Online Stock Performance

Shares of GLBE opened at $34.78 on Friday. The company’s 50-day simple moving average is $35.85 and its 200-day simple moving average is $36.44. Global-e Online Ltd. has a 1 year low of $26.64 and a 1 year high of $43.21. The stock has a market capitalization of $5.90 billion, a PE ratio of 94.00 and a beta of 1.24.

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.