Public Employees Retirement System of Ohio Buys 25,810 Shares of Global-e Online Ltd. $GLBE

Public Employees Retirement System of Ohio boosted its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 24.6% in the first quarter, Holdings Channel reports. The firm owned 130,602 shares of the company’s stock after purchasing an additional 25,810 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Global-e Online were worth $4,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wasatch Advisors LP increased its holdings in Global-e Online by 231.8% in the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after buying an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Global-e Online by 68.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after acquiring an additional 2,387,242 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of 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 during the period. Arohi Asset Management PTE Ltd. boosted its position in shares of 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. Finally, Norges Bank bought a new position in Global-e Online in the fourth quarter valued at approximately $51,104,000. Institutional investors own 94.60% of the company’s stock.

Global-e Online Price Performance

GLBE stock opened at $39.87 on Friday. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 61.34 and a beta of 1.06. The company has a 50 day simple moving average of $34.63 and a 200 day simple moving average of $33.76. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $41.94.

Analysts Set New Price Targets

GLBE has been the subject of several research analyst reports. Zacks Research downgraded shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Raymond James Financial reiterated an “outperform” rating and issued a $42.00 price target on shares of Global-e Online in a research note on Wednesday, May 13th. Weiss Ratings cut Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Truist Financial upped their price objective on Global-e Online from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Wall Street Zen lowered Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Insiders Place Their Bets

In related news, COO Shahar Tamari sold 24,999 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $36.81, for a total transaction of $920,213.19. Following the sale, the chief operating officer owned 3,931,686 shares in the company, valued at $144,725,361.66. The trade was a 0.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Nir Debbi sold 8,332 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $35.82, for a total value of $298,452.24. Following the sale, the president owned 4,534,449 shares in the company, valued at $162,423,963.18. This represents a 0.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 319,914 shares of company stock valued at $10,989,302. 11.60% of the stock is currently owned by insiders.

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.