SG Americas Securities LLC Has $42.11 Million Holdings in Global-e Online Ltd. $GLBE

SG Americas Securities LLC increased its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 6.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,365,092 shares of the company’s stock after buying an additional 81,784 shares during the period. SG Americas Securities LLC owned 0.80% of Global-e Online worth $42,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in Global-e Online by 68.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after acquiring an additional 2,387,242 shares during the period. Contour Asset Management LLC lifted its stake in shares of Global-e Online by 4.6% in the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock valued at $190,342,000 after purchasing an additional 211,034 shares during the period. Wasatch Advisors LP lifted its stake in shares of Global-e Online by 40.0% in the 4th quarter. Wasatch Advisors LP now owns 4,821,106 shares of the company’s stock valued at $189,518,000 after purchasing an additional 1,378,035 shares during the period. Arohi Asset Management PTE Ltd. boosted its position in shares of Global-e Online by 0.6% during the 4th quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock valued at $148,604,000 after purchasing an additional 23,213 shares in the last quarter. Finally, Spyglass Capital Management LLC boosted its position in shares of Global-e Online by 63.0% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock valued at $96,665,000 after purchasing an additional 1,044,960 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Stock Up 2.1%

Shares of NASDAQ:GLBE opened at $32.17 on Wednesday. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $41.94. The stock’s 50 day moving average is $31.38 and its 200-day moving average is $34.25. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 49.49 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $250.78 million. During the same period last year, the business earned ($0.11) EPS. Global-e Online’s quarterly revenue was up 32.8% compared to the same quarter last year. Equities research analysts anticipate that Global-e Online Ltd. will post 1.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on GLBE. Morgan Stanley lowered their target price 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. Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Global-e Online in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Global-e Online 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 9,233 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $33.70, for a total transaction of $311,152.10. Following the completion of the sale, the president directly owned 4,559,466 shares of the company’s stock, valued at $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 is available at this link. Also, COO Shahar Tamari sold 25,949 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $34.79, for a total transaction of $902,765.71. Following the completion of the sale, the chief operating officer owned 3,790,225 shares in the company, valued at $131,861,927.75. This represents a 0.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 244,054 shares of company stock valued at $7,967,800. Corporate insiders own 11.60% of the company’s stock.

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.