Penserra Capital Management LLC Purchases 17,676 Shares of Global-e Online Ltd. $GLBE

Penserra Capital Management LLC raised its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 16.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 127,667 shares of the company’s stock after purchasing an additional 17,676 shares during the quarter. Penserra Capital Management LLC’s holdings in Global-e Online were worth $4,564,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. North Peak Capital Management LLC bought a new position in shares of Global-e Online during the second quarter valued at about $88,481,000. Wasatch Advisors LP increased its holdings in Global-e Online by 231.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after purchasing an additional 2,392,124 shares during the period. Marshall Wace LLP raised its position in Global-e Online by 182.0% during the 2nd quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock valued at $122,626,000 after purchasing an additional 2,359,435 shares during the last quarter. Dragoneer Investment Group LLC lifted its holdings in 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 worth $337,279,000 after buying an additional 1,708,655 shares during the period. Finally, Arohi Asset Management PTE Ltd. grew its position in shares of Global-e Online by 91.0% in 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 last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-e Online Price Performance

NASDAQ:GLBE opened at $32.11 on Friday. The firm’s 50-day moving average price is $38.72 and its 200-day moving average price is $36.25. The company has a market capitalization of $5.45 billion, a PE ratio of 1,070.69 and a beta of 1.24. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings results 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 analysts’ expectations of $217.95 million. Global-e Online had a net margin of 0.82% and a return on equity of 0.81%. Global-e Online’s revenue was up 25.5% on a year-over-year basis. During the same period last year, the company posted ($0.13) EPS. Equities analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial set a $43.00 target price on Global-e Online in a report on Tuesday, January 20th. Needham & Company LLC upped their price objective on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Piper Sandler cut shares of Global-e Online from an “overweight” rating to a “mixed” rating in a research report on Monday. Benchmark reiterated a “buy” rating on shares of Global-e Online in a research report on Friday, January 16th. Finally, The Goldman Sachs Group increased their price target on shares of Global-e Online from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.09.

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.