Abdiel Capital Advisors LP Cuts Stake in Global-e Online Ltd. $GLBE

Abdiel Capital Advisors LP lessened its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 82.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,830 shares of the company’s stock after selling 1,630,555 shares during the quarter. Global-e Online comprises 19.8% of Abdiel Capital Advisors LP’s investment portfolio, making the stock its 2nd biggest holding. Abdiel Capital Advisors LP’s holdings in Global-e Online were worth $14,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Global-e Online during the 4th quarter worth about $39,000. IFP Advisors Inc boosted its position in shares of Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after purchasing an additional 448 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after purchasing an additional 1,616 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Global-e Online during the 4th quarter worth about $72,000. Institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLBE has been the topic of a number of research analyst reports. Truist Financial raised shares of Global-e Online from a “hold” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $39.00 in a research report on Wednesday, June 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. UBS Group dropped their price target on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Needham & Company LLC reaffirmed a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.33.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, President Nir Debbi sold 4,166 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $32.47, for a total value of $135,270.02. Following the completion of the sale, the president owned 4,554,851 shares in the company, valued at approximately $147,896,011.97. This trade represents a 0.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $32.18, for a total transaction of $536,311.88. Following the completion of the sale, the chief executive officer owned 4,200,058 shares of the company’s stock, valued at approximately $135,157,866.44. This trade represents a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 227,388 shares of company stock worth $7,430,064. Insiders own 11.60% of the company’s stock.

Global-e Online Stock Performance

NASDAQ:GLBE opened at $31.98 on Thursday. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 49.20 and a beta of 1.16. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94. The firm has a 50-day moving average price of $31.24 and a two-hundred day moving average price of $34.48.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The firm had revenue of $252.09 million during the quarter, compared to analyst estimates of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS. As a group, sell-side analysts forecast that Global-e Online Ltd. will post 1.11 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.