Ardsley Advisory Partners LP Purchases New Stake in Global-e Online Ltd. $GLBE

Key Points

• Ardsley Advisory Partners LP opened a new position in Global-e Online during the fourth quarter, buying 39,000 shares worth about $1.53 million.
• Institutional ownership in GLBE remains heavy, with 94.6% of the stock held by hedge funds and other institutions; several major investors also significantly increased their stakes.
• Global-e Online recently beat earnings expectations, reporting $0.27 EPS versus the $0.18 estimate, while revenue rose 32.8% year over year to $252.09 million.

Ardsley Advisory Partners LP bought a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,000 shares of the company's stock, valued at approximately $1,533,000.

Other institutional investors also recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in shares of Global-e Online by 231.8% in the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company's stock worth $114,847,000 after acquiring an additional 2,392,124 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company's stock valued at $230,842,000 after purchasing an additional 2,387,242 shares during the last quarter. Arohi Asset Management PTE Ltd. increased its stake in Global-e Online by 91.0% in the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company's stock valued at $94,680,000 after purchasing an additional 1,345,156 shares during the last quarter. Norges Bank acquired a new stake in Global-e Online during the fourth quarter worth about $51,104,000. Finally, Menora Mivtachim Holdings LTD. increased its stake in Global-e Online by 4,543.4% during the third quarter. Menora Mivtachim Holdings LTD. now owns 1,296,424 shares of the company's stock worth $46,360,000 after acquiring an additional 1,268,504 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GLBE. Benchmark restated a "buy" rating on shares of Global-e Online in a research note on Wednesday, May 27th. Jefferies Financial Group reissued a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a report on Wednesday, May 13th. KeyCorp reduced their target price on Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, February 19th. Morgan Stanley reduced their target price on Global-e Online from $43.00 to $37.00 and set an "overweight" rating on the stock in a report on Thursday, May 14th. Finally, Wall Street Zen lowered Global-e Online from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.33.

Global-e Online Price Performance

GLBE opened at $31.98 on Thursday. 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 cap of $5.43 billion, a P/E ratio of 49.20 and a beta of 1.16. The stock's 50 day moving average price is $31.24 and its 200 day moving average price is $34.48.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm earned ($0.11) EPS. The firm's revenue for the quarter was up 32.8% on a year-over-year basis. Equities analysts anticipate that Global-e Online Ltd. will post 1.11 EPS for the current year.

Insider Activity at Global-e Online

In other news, COO Shahar Tamari sold 25,949 shares of the firm's stock in a transaction on 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 directly owned 3,790,225 shares of the company's stock, valued at $131,861,927.75. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Nir Debbi sold 9,233 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $33.70, for a total value of $311,152.10. Following the sale, the president directly owned 4,559,466 shares of the company's stock, valued at approximately $153,654,004.20. This represents a 0.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 227,388 shares of company stock valued at $7,430,064 over the last 90 days. 11.60% of the stock is currently owned by corporate insiders.

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.

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