Deepwater Asset Management LLC Sells 33,407 Shares of Global-e Online Ltd. $GLBE

Deepwater Asset Management LLC reduced its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,448 shares of the company’s stock after selling 33,407 shares during the quarter. Global-e Online comprises approximately 5.0% of Deepwater Asset Management LLC’s portfolio, making the stock its 11th biggest holding. Deepwater Asset Management LLC owned approximately 0.21% of Global-e Online worth $12,675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLBE. Dragoneer Investment Group LLC raised its position in shares of Global-e Online by 20.5% during 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. Marshall Wace LLP increased its stake in Global-e Online by 182.0% in the second quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock valued at $122,626,000 after acquiring an additional 2,359,435 shares during the last quarter. JPMorgan Chase & Co. raised its position in Global-e Online by 27.0% during the second quarter. JPMorgan Chase & Co. now owns 3,617,284 shares of the company’s stock valued at $121,324,000 after purchasing an additional 770,028 shares in the last quarter. Wasatch Advisors LP raised its position in Global-e Online by 231.8% during the second 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 in the last quarter. Finally, Arohi Asset Management PTE Ltd. lifted its stake in Global-e Online by 91.0% during the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock worth $94,680,000 after purchasing an additional 1,345,156 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GLBE shares. Truist Financial dropped their target price on Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, February 26th. Bank of America reaffirmed a “buy” rating on shares of Global-e Online in a report on Wednesday, February 18th. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.80.

Global-e Online Stock Down 0.1%

Shares of GLBE opened at $34.61 on Wednesday. The stock has a market capitalization of $5.87 billion, a P/E ratio of 93.54 and a beta of 1.24. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21. The firm has a fifty day simple moving average of $36.53 and a two-hundred day simple moving average of $36.34.

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.