213,102 Shares in Global-e Online Ltd. $GLBE Acquired by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. purchased a new stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 213,102 shares of the company’s stock, valued at approximately $6,574,000. Global-e Online comprises approximately 0.7% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 24th largest holding. Bronte Capital Management Pty Ltd. owned 0.13% of Global-e Online as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GLBE. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online during the 4th quarter worth $39,000. IFP Advisors Inc raised its holdings in Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares during the period. Geneos Wealth Management Inc. raised its holdings in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares during the period. Tower Research Capital LLC TRC lifted its position in 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 acquiring an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Global-e Online during the 4th quarter worth $72,000. Institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Up 2.8%

Shares of GLBE opened at $36.85 on Friday. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $41.94. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 56.69 and a beta of 1.06. The stock’s 50-day moving average price is $31.77 and its 200 day moving average price is $34.03.

Analyst Upgrades and Downgrades

GLBE has been the topic of several research analyst reports. Weiss Ratings downgraded Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. BMO Capital Markets began coverage on Global-e Online in a research note on Tuesday, April 21st. They set an “outperform” rating and a $42.00 target price for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Global-e Online in a report on Wednesday, May 13th. Needham & Company LLC reaffirmed a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Finally, Morgan Stanley cut their price target on Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.33.

Insider Buying and Selling at Global-e Online

In other news, President Nir Debbi sold 5,180 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $34.66, for a total value of $179,538.80. Following the completion of the transaction, the president owned 4,542,781 shares in the company, valued at approximately $157,452,789.46. This represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $32.18, for a total transaction of $536,311.88. Following the transaction, the chief executive officer directly owned 4,200,058 shares of the company’s stock, valued at $135,157,866.44. The trade was a 0.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 287,483 shares of company stock valued at $9,559,890 in the last 90 days. 11.60% of the stock is currently owned by company insiders.

Global-e Online Company 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.