Temasek Holdings Private Ltd Sells 289,556 Shares of Global-e Online Ltd. $GLBE

Temasek Holdings Private Ltd trimmed its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 13.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,807,183 shares of the company’s stock after selling 289,556 shares during the period. Temasek Holdings Private Ltd’s holdings in Global-e Online were worth $55,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Global-e Online by 105.3% during the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock valued at $22,727,000 after acquiring an additional 296,466 shares in the last quarter. Annex Advisory Services LLC grew its stake in Global-e Online by 64.4% in the fourth quarter. Annex Advisory Services LLC now owns 640,016 shares of the company’s stock worth $25,159,000 after purchasing an additional 250,625 shares in the last quarter. Vitruvian Partners LLP grew its stake in Global-e Online by 21.9% in the fourth quarter. Vitruvian Partners LLP now owns 210,209 shares of the company’s stock worth $8,263,000 after purchasing an additional 37,767 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Global-e Online by 51.7% during the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company’s stock worth $4,484,000 after purchasing an additional 38,869 shares during the period. Finally, Next Century Growth Investors LLC increased its holdings in Global-e Online by 38.6% during the 4th quarter. Next Century Growth Investors LLC now owns 274,708 shares of the company’s stock worth $10,799,000 after purchasing an additional 76,452 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Global-e Online Stock Down 2.2%

Global-e Online stock opened at $35.76 on Wednesday. The firm has a market cap of $6.07 billion, a P/E ratio of 55.02 and a beta of 1.06. The business has a fifty day moving average of $33.39 and a two-hundred day moving average of $33.85. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $41.94.

Insider Buying and Selling

In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $36.81, for a total value of $920,213.19. Following the completion of the transaction, the chief operating officer directly owned 3,931,686 shares in the company, valued at approximately $144,725,361.66. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amir Schlachet sold 24,999 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $37.09, for a total transaction of $927,212.91. Following the completion of the transaction, the chief executive officer owned 4,116,728 shares of the company’s stock, valued at $152,689,441.52. This represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 319,914 shares of company stock worth $10,989,302 in the last three months. 11.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GLBE shares. Weiss Ratings lowered Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. BMO Capital Markets began coverage on Global-e Online in a research report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 price target on the stock. Wall Street Zen lowered Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an “accumulate” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 price objective 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 issued a Sell rating to the stock. According to MarketBeat, Global-e Online has a consensus rating of “Moderate Buy” and an average target price of $44.33.

About Global-e Online

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.