Summit Creek Advisors LLC Grows Position in Global-e Online Ltd. $GLBE

Summit Creek Advisors LLC increased its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 12.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 305,363 shares of the company’s stock after buying an additional 33,331 shares during the quarter. Summit Creek Advisors LLC owned about 0.18% of Global-e Online worth $10,920,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Global-e Online by 79.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 86,839 shares of the company’s stock valued at $3,105,000 after acquiring an additional 38,348 shares during the last quarter. Clay Northam Wealth Management LLC lifted its position in Global-e Online by 3.9% during the third quarter. Clay Northam Wealth Management LLC now owns 24,740 shares of the company’s stock valued at $885,000 after purchasing an additional 925 shares during the period. Annex Advisory Services LLC boosted its holdings in Global-e Online by 7.1% in the third quarter. Annex Advisory Services LLC now owns 389,391 shares of the company’s stock worth $13,925,000 after purchasing an additional 25,932 shares during the last quarter. Institute for Wealth Management LLC. boosted its holdings in Global-e Online by 13.0% in the third quarter. Institute for Wealth Management LLC. now owns 9,856 shares of the company’s stock worth $352,000 after purchasing an additional 1,136 shares during the last quarter. Finally, CWM LLC grew its position in Global-e Online by 5.6% in the 3rd quarter. CWM LLC now owns 21,331 shares of the company’s stock worth $763,000 after purchasing an additional 1,134 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Up 2.7%

NASDAQ GLBE opened at $41.59 on Monday. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The company has a market capitalization of $7.06 billion, a P/E ratio of 1,386.80 and a beta of 1.24. The stock’s 50-day moving average price is $38.58 and its 200-day moving average price is $35.76.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $220.78 million during the quarter, compared to the consensus estimate of $217.95 million. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The firm’s revenue was up 25.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) EPS. Research analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GLBE shares. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. Needham & Company LLC boosted their price target on Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Truist Financial set a $41.00 price objective on shares of Global-e Online in a research note on Thursday, December 11th. Finally, Benchmark reissued a “buy” rating on shares of Global-e Online in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Global-e Online currently has an average rating of “Moderate Buy” and a consensus target price of $49.91.

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.