Global-e Online Ltd. $GLBE Shares Purchased by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its stake in Global-e Online by 51.7% in the fourth quarter, buying 38,869 additional shares and bringing its total holdings to 114,076 shares worth about $4.48 million.
• Insiders sold shares recently, including CEO Amir Schlachet and President Nir Debbi, with total insider sales over the last 90 days amounting to 183,290 shares valued at $6.05 million.
• Global-e Online reported strong quarterly results, beating earnings estimates with EPS of $0.27 and revenue of $252.09 million, up 32.8% from a year earlier, while analysts currently maintain a consensus Moderate Buy rating.

Handelsbanken Fonder AB boosted its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 51.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,076 shares of the company's stock after purchasing an additional 38,869 shares during the quarter. Handelsbanken Fonder AB owned about 0.07% of Global-e Online worth $4,484,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Global-e Online by 73.3% in the third 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. boosted its holdings in Global-e Online by 67.2% in the first 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 holdings in Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock valued at $61,000 after purchasing an additional 1,616 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Global-e Online by 237.7% in the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company's stock valued at $72,000 after purchasing an additional 1,376 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Global-e Online by 28.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company's stock valued at $106,000 after purchasing an additional 649 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Amir Schlachet sold 8,333 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $29.00, for a total value of $241,657.00. Following the completion of the sale, the chief executive officer directly owned 4,241,723 shares of the company's stock, valued at approximately $123,009,967. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Nir Debbi sold 2,303 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $30.01, for a total value of $69,113.03. Following the sale, the president owned 4,570,562 shares of the company's stock, valued at $137,162,565.62. This trade represents a 0.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 183,290 shares of company stock valued at $6,045,366. 11.60% of the stock is currently owned by company insiders.

Global-e Online Trading Down 0.6%

GLBE stock opened at $29.95 on Friday. The company has a market capitalization of $5.08 billion, a P/E ratio of 46.08 and a beta of 1.18. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $41.94. The business has a 50 day simple moving average of $31.35 and a 200-day simple moving average of $35.11.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. The business 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 company's revenue was up 32.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) earnings per share. Research analysts predict that Global-e Online Ltd. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on Global-e Online from $43.00 to $37.00 and set an "overweight" rating for the company in a report on Thursday, May 14th. BMO Capital Markets assumed coverage on Global-e Online in a report on Tuesday, April 21st. They issued an "outperform" rating and a $42.00 price target for the company. Piper Sandler reaffirmed an "overweight" rating on shares of Global-e Online in a report on Thursday, February 19th. UBS Group lowered their price target on Global-e Online from $52.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, March 31st. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $40.00 price objective on shares of Global-e Online in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.17.

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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