Global-e Online Ltd. $GLBE Stock Position Increased by UBS Group AG

Key Points

• UBS Group AG increased its Global-e Online stake by 61.3% in the fourth quarter, buying 256,105 additional shares to bring its total to 673,918 shares worth about $26.5 million.
• Several other institutional investors also boosted their positions, and overall 94.6% of Global-e Online’s stock is owned by institutions and hedge funds.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $46.77, even as some executives recently sold shares and the stock traded at $29.80.

UBS Group AG lifted its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 61.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 673,918 shares of the company's stock after buying an additional 256,105 shares during the period. UBS Group AG owned approximately 0.40% of Global-e Online worth $26,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock worth $38,000 after purchasing an additional 448 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock worth $47,000 after purchasing an additional 528 shares during the period. Tower Research Capital LLC TRC raised its position in shares of 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 worth $61,000 after purchasing an additional 1,616 shares during the period. Jones Financial Companies Lllp raised its position in shares of Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company's stock worth $72,000 after purchasing an additional 1,376 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Global-e Online by 28.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company's stock worth $106,000 after purchasing an additional 649 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GLBE has been the topic of several recent analyst reports. BMO Capital Markets initiated coverage on Global-e Online in a research report on Tuesday, April 21st. They set an "outperform" rating and a $42.00 price target on the stock. KeyCorp dropped their price target on Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, February 19th. Piper Sandler reissued an "overweight" rating on shares of Global-e Online in a research report on Thursday, February 19th. Bank of America initiated coverage on Global-e Online in a research report on Tuesday, March 31st. They set a "buy" rating and a $43.00 price target on the stock. Finally, Morgan Stanley reissued an "overweight" rating on shares of Global-e Online in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.77.

Insiders Place Their Bets

In other news, COO Shahar Tamari sold 25,949 shares of the company's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $34.79, for a total transaction of $902,765.71. Following the completion of the sale, the chief operating officer owned 3,790,225 shares in the company, valued at approximately $131,861,927.75. This represents a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amir Schlachet sold 16,666 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total value of $574,143.70. Following the sale, the chief executive officer owned 3,562,787 shares of the company's stock, valued at approximately $122,738,012.15. This trade represents a 0.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 153,181 shares of company stock valued at $5,114,716 in the last three months. Insiders own 11.60% of the company's stock.

Global-e Online Price Performance

Shares of GLBE stock opened at $29.80 on Monday. Global-e Online Ltd. has a fifty-two week low of $27.80 and a fifty-two week high of $43.21. The stock's 50-day moving average is $32.66 and its two-hundred day moving average is $35.57. The firm has a market cap of $5.06 billion, a P/E ratio of 80.54 and a beta of 1.18.

Global-e Online Company 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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