Dragoneer Investment Group LLC Sells 522,050 Shares of Global-e Online Ltd. $GLBE

Dragoneer Investment Group LLC reduced its position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,365,028 shares of the company's stock after selling 522,050 shares during the period. Global-e Online comprises approximately 9.7% of Dragoneer Investment Group LLC's holdings, making the stock its 3rd largest holding. Dragoneer Investment Group LLC owned about 6.70% of Global-e Online worth $446,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc grew its stake in Global-e Online by 73.3% during the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock worth $38,000 after buying an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Global-e Online during the 4th quarter worth $39,000. Geneos Wealth Management Inc. grew 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 worth $47,000 after buying an additional 528 shares during the last quarter. 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, Jones Financial Companies Lllp grew its stake in Global-e Online by 237.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company's stock worth $72,000 after buying an additional 1,376 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Price Performance

GLBE opened at $32.28 on Wednesday. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $41.94. The business has a 50-day moving average of $31.22 and a 200-day moving average of $34.54. The company has a market capitalization of $5.48 billion, a PE ratio of 49.66 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.09. The company had revenue of $252.09 million during the quarter, compared to the consensus estimate of $250.78 million. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The business's quarterly revenue was up 32.8% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS. On average, equities research analysts expect that Global-e Online Ltd. will post 1.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GLBE has been the subject of several recent analyst reports. Piper Sandler reissued an "overweight" rating on shares of Global-e Online in a research note on Thursday, February 19th. UBS Group decreased their target price on Global-e Online from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft raised Global-e Online to an "accumulate" rating in a research note on Wednesday, May 27th. Weiss Ratings cut Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. Finally, Morgan Stanley decreased their target price on Global-e Online from $43.00 to $37.00 and set an "overweight" rating for the company in a research note on Thursday, May 14th. One investment 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, Global-e Online presently has a consensus rating of "Moderate Buy" and an average price target of $44.33.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, President Nir Debbi sold 9,233 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the president owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. This trade represents a 0.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $33.34, for a total value of $555,644.44. Following the completion of the sale, the chief executive officer owned 4,216,724 shares of the company's stock, valued at $140,585,578.16. This represents a 0.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 206,556 shares of company stock valued at $6,758,482 in 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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