Global-e Online Ltd. $GLBE Shares Sold by Abdiel Capital Advisors LP

Key Points

• Abdiel Capital Advisors cut its stake in Global-e Online by 82% in the fourth quarter, selling 1.63 million shares and leaving it with 356,830 shares worth about $14.0 million.
• Global-e Online reported better-than-expected quarterly results, posting EPS of $0.27 versus $0.18 expected and revenue of $252.1 million, with revenue rising 32.8% year over year.
• Despite some insider selling and a slight stock decline, Wall Street remains broadly positive: the stock carries a Moderate Buy consensus with an average price target of $44.33.

Abdiel Capital Advisors LP trimmed its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 82.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,830 shares of the company's stock after selling 1,630,555 shares during the period. Global-e Online accounts for 19.8% of Abdiel Capital Advisors LP's holdings, making the stock its 2nd largest position. Abdiel Capital Advisors LP owned 0.21% of Global-e Online worth $14,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc raised its position in Global-e Online by 73.3% during 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. Caitong International Asset Management Co. Ltd acquired a new position in Global-e Online during the fourth quarter valued at approximately $39,000. Geneos Wealth Management Inc. raised its position in Global-e Online by 67.2% during 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 raised its position in Global-e Online by 780.7% during 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. Finally, Jones Financial Companies Lllp raised its position in Global-e Online by 237.7% during 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. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Stock Down 0.9%

NASDAQ GLBE opened at $31.98 on Thursday. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 49.20 and a beta of 1.16. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $41.94. The stock has a fifty day simple moving average of $31.24 and a 200 day simple moving average of $34.48.

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 analysts' consensus estimates 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%.Global-e Online's quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. Research analysts expect that Global-e Online Ltd. will post 1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KeyCorp lowered their price objective on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, February 19th. Bank of America started coverage on shares of Global-e Online in a report on Tuesday, March 31st. They set a "buy" rating and a $43.00 price target for the company. Weiss Ratings downgraded shares of Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 8th. UBS Group lowered their price target on shares of 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, Raymond James Financial reiterated an "outperform" rating and set a $42.00 price target on shares of Global-e Online in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued 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 has an average rating of "Moderate Buy" and a consensus target price of $44.33.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 7,874 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $33.09, for a total transaction of $260,550.66. Following the sale, the chief operating officer owned 4,017,209 shares of the company's stock, valued at approximately $132,929,445.81. This represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Nir Debbi sold 4,166 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $32.47, for a total transaction of $135,270.02. Following the sale, the president directly owned 4,554,851 shares in the company, valued at $147,896,011.97. This trade represents a 0.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 227,388 shares of company stock valued at $7,430,064. 11.60% of the stock is currently owned by 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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