Global-e Online Ltd. $GLBE is Wasatch Advisors LP's 9th Largest Position

Key Points

• Wasatch Advisors increased its Global-e Online stake by 28.1% in the second quarter, bringing its holdings to 8.28 million shares worth approximately $287.4 million. GLBE now represents about 1.9% of Wasatch’s portfolio and is its ninth-largest position.
• Global-e shares opened at $40.86, near their 52-week high, with a $6.94 billion market capitalization and a P/E ratio of 62.86. Institutional investors and hedge funds collectively own 94.6% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings, one Hold, and one Sell, producing a “Moderate Buy” consensus and an average price target of $44.83. However, company insiders sold nearly $17 million of stock over the past 90 days.

Wasatch Advisors LP increased its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 28.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,275,194 shares of the company's stock after buying an additional 1,816,606 shares during the quarter. Global-e Online comprises approximately 1.9% of Wasatch Advisors LP's portfolio, making the stock its 9th biggest holding. Wasatch Advisors LP owned approximately 4.88% of Global-e Online worth $287,397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of 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 valued at $230,842,000 after acquiring an additional 2,387,242 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Global-e Online by 1,539.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company's stock worth $89,213,000 after acquiring an additional 2,131,047 shares during the period. Arohi Asset Management PTE Ltd. boosted its position in shares of 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 worth $94,680,000 after acquiring an additional 1,345,156 shares during the last quarter. Norges Bank acquired a new stake in shares of Global-e Online in the fourth quarter worth approximately $51,104,000. Finally, Balyasny Asset Management L.P. grew its holdings in Global-e Online by 197.8% in the second quarter. Balyasny Asset Management L.P. now owns 1,545,096 shares of the company's stock valued at $51,823,000 after purchasing an additional 1,026,316 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Stock Performance

Global-e Online stock opened at $40.86 on Wednesday. The stock's 50 day moving average price is $36.26 and its 200 day moving average price is $33.91. The firm has a market capitalization of $6.94 billion, a PE ratio of 62.86 and a beta of 1.03. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $42.51.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GLBE shares. Raymond James Financial reaffirmed an "outperform" rating and set a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. BMO Capital Markets lifted their price target on shares of Global-e Online from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an "accumulate" rating in a research note on Wednesday, May 27th. Weiss Ratings restated a "sell (d+)" rating on shares of Global-e Online in a report on Wednesday, August 5th. Finally, Zacks Research lowered Global-e Online from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $44.83.

Insider Buying and Selling at Global-e Online

In other news, CEO Amir Schlachet sold 100,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,965,422 shares in the company, valued at approximately $167,340,808.40. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Shahar Tamari sold 24,999 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.59, for a total transaction 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. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 456,959 shares of company stock valued at $16,994,782 over the last 90 days. 11.60% of the stock is 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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