37,071 Shares in Global-e Online Ltd. $GLBE Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 37,071 shares of Global-e Online worth approximately $1.14 million during the first quarter. Institutional investors collectively own 94.6% of the company.
• Analyst sentiment remains positive, with 13 Buy ratings, one Hold and one Sell. Global-e has a consensus “Moderate Buy” rating and an average price target of $44.83.
• Global-e shares opened at $42.32, near their 52-week high of $42.51, while insiders have sold 356,637 shares valued at roughly $12.76 million over the past three months.

Empowered Funds LLC acquired a new stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 37,071 shares of the company's stock, valued at approximately $1,144,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLBE. Lazard Asset Management LLC grew its holdings in Global-e Online by 4.7% in the 1st quarter. Lazard Asset Management LLC now owns 98,748 shares of the company's stock valued at $3,046,000 after buying an additional 4,428 shares in the last quarter. Lombard Odier Asset Management USA Corp purchased a new stake in Global-e Online in the first quarter valued at approximately $239,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Global-e Online during the 1st quarter worth about $2,725,000. Renaissance Technologies LLC acquired a new stake in shares of Global-e Online during the first quarter worth about $8,512,000. Finally, Public Employees Retirement System of Ohio boosted its position in Global-e Online by 24.6% in the 1st quarter. Public Employees Retirement System of Ohio now owns 130,602 shares of the company's stock valued at $4,029,000 after buying an additional 25,810 shares during the period. Institutional investors and hedge funds own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GLBE. Truist Financial boosted their price target on shares of Global-e Online from $39.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Piper Sandler reiterated an "overweight" rating and set a $48.00 target price on shares of Global-e Online in a research report on Wednesday, July 29th. Needham & Company LLC reissued a "buy" rating on shares of Global-e Online in a report on Wednesday, May 27th. Zacks Research downgraded Global-e Online from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft raised Global-e Online to an "accumulate" rating in a research report on Wednesday, May 27th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Global-e Online has a consensus rating of "Moderate Buy" and an average price target of $44.83.

Global-e Online Stock Performance

Shares of NASDAQ GLBE opened at $42.32 on Friday. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $42.51. The firm has a market capitalization of $7.18 billion, a P/E ratio of 65.11 and a beta of 1.03. The company's fifty day moving average is $35.96 and its two-hundred day moving average is $33.87.

Insider Activity at Global-e Online

In other Global-e Online news, President Nir Debbi sold 14,582 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $40.11, for a total transaction of $584,884.02. Following the transaction, the president owned 4,430,285 shares of the company's stock, valued at $177,698,731.35. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Shahar Tamari sold 24,999 shares of the business's stock in a transaction dated 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 sale, the chief operating officer directly owned 3,881,688 shares of the company's stock, valued at approximately $161,439,403.92. This trade represents a 0.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 356,637 shares of company stock valued at $12,761,235. Insiders own 11.60% of the company's stock.

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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