172,011 Shares in Global-e Online Ltd. $GLBE Bought by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors acquired 172,011 shares of Global-e Online worth approximately $5.97 million, making the position 2% of its portfolio and about 0.10% of GLBE’s outstanding shares.
• Analysts maintain a generally positive outlook: 13 rate GLBE a Buy, two rate it Hold, and one rates it Sell. The stock has a consensus rating of “Moderate Buy” and an average price target of $47.23.
• Global-e reported quarterly revenue of $299 million and earnings of $0.37 per share. Meanwhile, insiders sold about 639,747 shares worth $24.9 million over the past 90 days, while the stock recently traded at $41.31.

Summit Creek Advisors LLC purchased a new stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 172,011 shares of the company's stock, valued at approximately $5,974,000. Global-e Online comprises approximately 2.0% of Summit Creek Advisors LLC's portfolio, making the stock its 21st largest holding. Summit Creek Advisors LLC owned about 0.10% of Global-e Online as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online during the fourth quarter worth about $39,000. IFP Advisors Inc boosted its position in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after purchasing an additional 448 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Global-e Online by 67.2% in 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. Tower Research Capital LLC TRC grew its stake 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 buying an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Global-e Online during the 4th quarter worth approximately $72,000. Hedge funds and other institutional investors own 94.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GLBE. Zacks Research cut Global-e Online from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. Weiss Ratings restated a "sell (d+)" rating on shares of Global-e Online in a research report on Wednesday, August 5th. Benchmark reaffirmed a "buy" rating on shares of Global-e Online in a report on Thursday, August 13th. UBS Group set a $54.00 target price on shares of Global-e Online and gave the company a "buy" rating in a report on Thursday, August 13th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $48.00 price target on shares of Global-e Online in a research report on Wednesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.23.

Global-e Online Stock Up 0.3%

Shares of GLBE stock opened at $41.31 on Wednesday. The stock's 50-day moving average price is $37.18 and its 200 day moving average price is $34.04. The stock has a market capitalization of $7.01 billion, a PE ratio of 48.04 and a beta of 1.03. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $43.99.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%.The company had revenue of $299.00 million during the quarter. Analysts expect that Global-e Online Ltd. will post 1.13 earnings per share for the current fiscal year.

Insider Transactions at Global-e Online

In related news, COO Shahar Tamari sold 24,999 shares of Global-e Online stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.59, for a total value of $1,039,708.41. Following the transaction, the chief operating officer directly owned 3,881,688 shares in the company, valued at $161,439,403.92. This trade represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amir Schlachet sold 81,556 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $42.30, for a total transaction of $3,449,818.80. Following the completion of the transaction, the chief executive officer directly owned 3,766,730 shares in the company, valued at $159,332,679. This represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 639,747 shares of company stock worth $24,908,433 over the last 90 days. 11.60% of the stock is currently owned by insiders.

About Global-e Online

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.

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