Global-e Online Ltd. $GLBE Shares Bought by Wasatch Advisors LP

Key Points

• Wasatch Advisors LP increased its stake in Global-e Online by 34% in the first quarter, ending with 6.46 million shares valued at about $199.2 million and representing 3.81% of the company.
• Global-e Online reported strong quarterly results, posting $0.27 EPS versus the $0.18 consensus estimate and revenue of $252.09 million, up 32.8% year over year.
• Analyst sentiment remains mostly positive, with a Moderate Buy consensus and a target price of $44.33, even as CEO Amir Schlachet and President Nir Debbi recently sold shares.

Wasatch Advisors LP grew its stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 34.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,458,588 shares of the company's stock after acquiring an additional 1,637,482 shares during the quarter. Global-e Online comprises approximately 1.3% of Wasatch Advisors LP's portfolio, making the stock its 26th biggest holding. Wasatch Advisors LP owned approximately 3.81% of Global-e Online worth $199,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Global-e Online during the 4th quarter worth about $39,000. IFP Advisors Inc lifted its holdings in 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 in the last quarter. Geneos Wealth Management Inc. lifted its holdings in 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Global-e Online during the 4th quarter worth about $72,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-e Online Trading Up 6.1%

Shares of GLBE opened at $36.41 on Friday. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $41.94. The firm has a market capitalization of $6.18 billion, a P/E ratio of 56.02 and a beta of 1.16. The stock's fifty day simple moving average is $31.57 and its 200 day simple moving average is $34.17.

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

Analyst Upgrades and Downgrades

GLBE has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating on shares of Global-e Online in a research report on Wednesday, May 27th. BMO Capital Markets began coverage on shares of Global-e Online in a research report on Tuesday, April 21st. They set an "outperform" rating and a $42.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an "accumulate" rating in a research note on Wednesday, May 27th. Bank of America began coverage on Global-e Online in a report on Tuesday, March 31st. They issued a "buy" rating and a $43.00 price target for the company. Finally, Wall Street Zen downgraded Global-e Online from a "buy" rating to a "hold" rating in a 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $44.33.

Insider Buying and Selling

In related news, CEO Amir Schlachet sold 16,666 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $32.18, for a total value of $536,311.88. Following the transaction, the chief executive officer owned 4,200,058 shares in the company, valued at approximately $135,157,866.44. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Nir Debbi sold 6,890 shares of Global-e Online stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $34.02, for a total transaction of $234,397.80. Following the transaction, the president directly owned 4,547,961 shares in the company, valued at approximately $154,721,633.22. This trade represents a 0.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 250,944 shares of company stock valued at $8,202,198. 11.60% of the stock is currently owned by corporate 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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