Global-e Online Ltd. $GLBE Stake Increased by Deepwater Asset Management LLC

Deepwater Asset Management LLC lifted its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,063 shares of the company’s stock after buying an additional 37,615 shares during the quarter. Global-e Online accounts for 4.5% of Deepwater Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Deepwater Asset Management LLC owned 0.23% of Global-e Online worth $15,412,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Arohi Asset Management PTE Ltd. raised its holdings in Global-e Online by 33.1% during the third quarter. Arohi Asset Management PTE Ltd. now owns 3,757,091 shares of the company’s stock worth $134,354,000 after purchasing an additional 934,207 shares during the last quarter. Wasatch Advisors LP raised its holdings in Global-e Online by 0.6% during the third quarter. Wasatch Advisors LP now owns 3,443,071 shares of the company’s stock worth $123,124,000 after purchasing an additional 18,889 shares during the last quarter. Spyglass Capital Management LLC raised its holdings in Global-e Online by 63.0% during the third quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock worth $96,665,000 after purchasing an additional 1,044,960 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Global-e Online by 47.1% during the third quarter. Balyasny Asset Management L.P. now owns 2,273,405 shares of the company’s stock worth $81,297,000 after purchasing an additional 728,309 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its holdings in Global-e Online by 31.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,041,555 shares of the company’s stock worth $80,254,000 after purchasing an additional 490,888 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Price Performance

Shares of NASDAQ GLBE opened at $32.13 on Monday. Global-e Online Ltd. has a 1-year low of $26.84 and a 1-year high of $41.94. The business has a 50-day moving average of $30.94 and a 200-day moving average of $34.78. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 49.43 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The company had revenue of $252.09 million during the quarter, compared to the consensus estimate of $250.78 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s revenue was up 32.8% compared to the same quarter last year. Research analysts expect that Global-e Online Ltd. will post 1.12 EPS for the current fiscal year.

Insider Transactions at Global-e Online

In related news, President Nir Debbi sold 9,233 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $33.70, for a total value of $311,152.10. Following the transaction, the president owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Amir Schlachet sold 16,666 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $33.34, for a total value of $555,644.44. Following the completion of the transaction, the chief executive officer owned 4,216,724 shares in the company, valued at approximately $140,585,578.16. This trade represents a 0.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 231,554 shares of company stock valued at $7,645,702 over the last quarter. Company insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GLBE. UBS Group cut their price target on Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. KeyCorp cut their price target on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Weiss Ratings cut Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Benchmark reissued a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. Finally, BMO Capital Markets began coverage on Global-e Online in a report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Global-e Online has an average rating of “Moderate Buy” and an average target price of $43.92.

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.