Handelsbanken Fonder AB Grows Stock Position in Global-e Online Ltd. $GLBE

Handelsbanken Fonder AB lifted its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 51.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,076 shares of the company’s stock after purchasing an additional 38,869 shares during the quarter. Handelsbanken Fonder AB’s holdings in Global-e Online were worth $4,484,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vitruvian Partners LLP raised its stake in shares of Global-e Online by 23.1% during the third quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock worth $6,167,000 after purchasing an additional 32,405 shares during the last quarter. Annex Advisory Services LLC raised its stake in shares of Global-e Online by 64.4% during 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 during the last quarter. Penserra Capital Management LLC raised its stake in shares of Global-e Online by 16.1% during the third quarter. Penserra Capital Management LLC now owns 127,667 shares of the company’s stock worth $4,564,000 after purchasing an additional 17,676 shares during the last quarter. NZS Capital LLC raised its stake in shares of Global-e Online by 39.3% during the third quarter. NZS Capital LLC now owns 950,631 shares of the company’s stock worth $33,995,000 after purchasing an additional 268,328 shares during the last quarter. Finally, Brown Capital Management LLC raised its stake in shares of Global-e Online by 10.0% during the third quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company’s stock worth $85,461,000 after purchasing an additional 216,304 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Insider Activity

In other news, President Nir Debbi sold 8,332 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $34.51, for a total value of $287,537.32. Following the completion of the transaction, the president owned 3,897,506 shares in the company, valued at $134,502,932.06. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Shahar Tamari sold 25,949 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $34.79, for a total value of $902,765.71. Following the completion of the transaction, the chief operating officer owned 3,790,225 shares of the company’s stock, valued at approximately $131,861,927.75. This represents a 0.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 183,290 shares of company stock worth $6,045,366 over the last 90 days. 11.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on GLBE shares. Wall Street Zen cut Global-e Online from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Piper Sandler reiterated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Morgan Stanley cut their price objective on Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Truist Financial cut their price objective on Global-e Online from $42.00 to $37.00 and set a “hold” rating for the company in a research report on Friday, April 24th. Finally, Bank of America assumed coverage on Global-e Online in a research report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.17.

Global-e Online Trading Down 0.6%

Shares of Global-e Online stock opened at $29.95 on Friday. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $41.94. The stock has a market cap of $5.08 billion, a PE ratio of 46.08 and a beta of 1.18. The company has a 50-day moving average of $31.35 and a two-hundred day moving average of $35.11.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The company had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. During the same period last year, the company posted ($0.11) earnings per share. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. On average, sell-side analysts forecast that Global-e Online Ltd. will post 1.12 EPS for the current fiscal year.

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.