Amova Asset Management Americas Inc. Cuts Stock Holdings in Global-e Online Ltd. $GLBE

Amova Asset Management Americas Inc. decreased its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 10.6% in the 4th quarter, Holdings Channel reports. The firm owned 806,820 shares of the company’s stock after selling 95,703 shares during the period. Amova Asset Management Americas Inc.’s holdings in Global-e Online were worth $31,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GLBE. Annex Advisory Services LLC lifted its position in Global-e Online by 64.4% in the 4th quarter. Annex Advisory Services LLC now owns 640,016 shares of the company’s stock worth $25,159,000 after buying an additional 250,625 shares during the last quarter. Vitruvian Partners LLP lifted its position in Global-e Online by 23.1% in the 3rd quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock worth $6,167,000 after buying an additional 32,405 shares during the last quarter. Legal & General Group Plc lifted its position in Global-e Online by 105.3% in the 4th quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock worth $22,727,000 after buying an additional 296,466 shares during the last quarter. NZS Capital LLC lifted its position in Global-e Online by 39.3% in the 3rd quarter. NZS Capital LLC now owns 950,631 shares of the company’s stock worth $33,995,000 after buying an additional 268,328 shares during the last quarter. Finally, Spyglass Capital Management LLC lifted its position in Global-e Online by 63.0% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock worth $96,665,000 after buying an additional 1,044,960 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Insiders Place Their Bets

In other Global-e Online news, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total value of $574,143.70. Following the completion of the transaction, the chief executive officer owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Nir Debbi sold 9,233 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $33.70, for a total value of $311,152.10. Following the completion of the sale, the president directly owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. This represents a 0.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 248,220 shares of company stock worth $8,183,640. 11.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GLBE. Benchmark restated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Weiss Ratings downgraded Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Truist Financial dropped their target price on Global-e Online from $37.00 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Zacks Research downgraded Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, BMO Capital Markets began coverage on Global-e Online in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.92.

Global-e Online Stock Up 0.7%

Shares of Global-e Online stock opened at $32.38 on Wednesday. The company has a market cap of $5.50 billion, a PE ratio of 49.82 and a beta of 1.16. The business has a 50 day moving average of $31.03 and a 200 day moving average of $34.72. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94.

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

Global-e Online 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.