Global-e Online Ltd. $GLBE Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. cut its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 70.7% in the 1st quarter, Holdings Channel reports. The firm owned 236,039 shares of the company’s stock after selling 570,781 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Global-e Online were worth $7,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Global-e Online by 87.4% in the first quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock valued at $2,684,000 after buying an additional 35,120 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Global-e Online by 17.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after acquiring an additional 8,239 shares during the period. Geneos Wealth Management Inc. boosted its stake in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Global-e Online during the 2nd quarter valued at about $5,428,000. Finally, Brown Advisory Inc. bought a new position in Global-e Online in the 2nd quarter worth about $726,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Price Performance

Shares of GLBE opened at $36.58 on Tuesday. The firm’s 50 day moving average is $33.28 and its 200-day moving average is $33.87. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $41.94. The stock has a market capitalization of $6.21 billion, a P/E ratio of 56.28 and a beta of 1.06.

Analysts Set New Price Targets

Several equities research analysts have commented on GLBE shares. BMO Capital Markets began coverage on shares of Global-e Online in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price target on the stock. Truist Financial raised 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 report on Wednesday, June 10th. UBS Group lowered their target price on 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. Weiss Ratings downgraded Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. One equities 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 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 target price of $44.33.

Insider Buying and Selling

In other news, COO Shahar Tamari sold 24,999 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $36.81, for a total transaction of $920,213.19. Following the completion of the sale, the chief operating officer owned 3,931,686 shares in the company, valued at approximately $144,725,361.66. This represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amir Schlachet sold 24,999 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $37.09, for a total value of $927,212.91. Following the sale, the chief executive officer directly owned 4,116,728 shares of the company’s stock, valued at approximately $152,689,441.52. This represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 319,914 shares of company stock worth $10,989,302. Corporate insiders own 11.60% of the company’s stock.

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.