NZS Capital LLC Buys 268,328 Shares of Global-e Online Ltd. $GLBE

NZS Capital LLC raised its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 39.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 950,631 shares of the company’s stock after buying an additional 268,328 shares during the quarter. NZS Capital LLC’s holdings in Global-e Online were worth $33,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. North Peak Capital Management LLC acquired a new position in Global-e Online during the second quarter valued at approximately $88,481,000. Wasatch Advisors LP grew its holdings in shares of 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. Marshall Wace LLP increased its position in shares of Global-e Online by 182.0% in the 2nd quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock valued at $122,626,000 after buying an additional 2,359,435 shares in the last quarter. Dragoneer Investment Group LLC increased its position in shares of Global-e Online by 20.5% in the 2nd quarter. Dragoneer Investment Group LLC now owns 10,056,015 shares of the company’s stock valued at $337,279,000 after buying an additional 1,708,655 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. raised its stake in 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 buying an additional 1,345,156 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $34.61 on Wednesday. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 93.54 and a beta of 1.24. The stock’s 50-day moving average is $36.53 and its 200-day moving average is $36.34. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $43.21.

Analysts Set New Price Targets

A number of research firms have issued reports on GLBE. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Piper Sandler reiterated an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Benchmark boosted their price objective on Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Finally, KeyCorp dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.80.

Global-e Online Company 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.