Summit Creek Advisors LLC Sells 27,818 Shares of Global-e Online Ltd. $GLBE

Summit Creek Advisors LLC cut its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 16.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 144,193 shares of the company’s stock after selling 27,818 shares during the quarter. Global-e Online comprises approximately 2.3% of Summit Creek Advisors LLC’s portfolio, making the stock its 16th biggest holding. Summit Creek Advisors LLC owned approximately 0.08% of Global-e Online worth $5,729,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Calamos Advisors LLC acquired a new stake in Global-e Online in the 3rd quarter worth about $709,000. Associated Banc Corp purchased a new stake in Global-e Online in the 3rd quarter valued at about $309,000. State of Wyoming increased its stake in shares of Global-e Online by 70.1% during the 3rd quarter. State of Wyoming now owns 20,086 shares of the company’s stock valued at $798,000 after acquiring an additional 8,279 shares during the last quarter. Signaturefd LLC increased its stake in shares of Global-e Online by 58.5% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $38,000 after acquiring an additional 354 shares during the last quarter. Finally, Seelaus Asset Management LLC increased its stake in shares of Global-e Online by 10.5% during the 3rd quarter. Seelaus Asset Management LLC now owns 14,858 shares of the company’s stock valued at $590,000 after acquiring an additional 1,409 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Global-e Online

In related news, President Nir Debbi sold 18,069 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $44.51, for a total value of $804,251.19. Following the transaction, the president owned 4,224,724 shares in the company, valued at approximately $188,042,465.24. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Shahar Tamari sold 27,957 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $44.48, for a total transaction of $1,243,527.36. Following the completion of the transaction, the chief operating officer owned 3,728,736 shares in the company, valued at $165,854,177.28. The trade was a 0.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 742,889 shares of company stock worth $30,637,208. 11.60% of the stock is currently owned by company insiders.

Global-e Online News Roundup

Here are the key news stories impacting Global-e Online this week:

• Positive Sentiment: Analyst coverage cited in a recent report remains broadly favorable: 13 analysts rated GLBE Buy and three Hold, with an average price target of $48.08. Insider trading report
• Negative Sentiment: President Nir Debbi sold a combined 132,651 shares in transactions from November 2–5, while COO Shahar Tamari sold 28,228 shares on November 4–5. The sales may weigh on sentiment, although both executives retain multi-million-share holdings and the reported reductions were small relative to their positions. SEC filing for President’s trades SEC filing for COO’s trades

Analyst Upgrades and Downgrades

GLBE has been the topic of several research analyst reports. Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Citigroup restated a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Truist Financial upped their price target on shares of Global-e Online from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price target on shares of Global-e Online in a research note on Tuesday, August 11th. Finally, BMO Capital Markets lifted their price target on shares of Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.08.

Global-e Online Trading Down 0.8%

GLBE stock opened at $42.97 on Friday. The company has a market cap of $7.29 billion, a PE ratio of 49.97 and a beta of 1.10. The stock has a 50-day moving average price of $39.81 and a two-hundred day moving average price of $35.84. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $45.28.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings data 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 return on equity of 16.70% and a net margin of 13.87%. Equities analysts forecast that Global-e Online Ltd. will post 1.32 EPS for the current fiscal year.

Global-e Online Profile

Global-e Online Ltd. (NASDAQ: GLBE) provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.

The company’s platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.

Founded in 2013, Global-e serves merchants and shoppers across international markets.