Global-e Online Ltd. $GLBE Stock Position Raised by Ampersand Capital Group L.P.

Key Points

• Ampersand Capital Group L.P. raised its stake in Global-e Online by 13% to 1,240,074 shares, making GLBE its largest position at about 20% of the fund’s portfolio and worth roughly $44.3 million.
• Several major funds (Wasatch, Marshall Wace, Dragoneer, North Peak, Arohi) also added large positions, leaving approximately 94.60% of GLBE owned by hedge funds and other institutional investors.
• Analysts hold a Moderate Buy consensus on GLBE with an average target price of $47.80, though individual ratings range from Sell to Strong Buy.

Ampersand Capital Group L.P. boosted its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 13.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,240,074 shares of the company's stock after acquiring an additional 142,949 shares during the period. Global-e Online accounts for about 20.0% of Ampersand Capital Group L.P.'s investment portfolio, making the stock its largest position. Ampersand Capital Group L.P. owned about 0.73% of Global-e Online worth $44,345,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. North Peak Capital Management LLC purchased a new stake in shares of Global-e Online in the second quarter valued at about $88,481,000. Wasatch Advisors LP increased its stake in shares of Global-e Online by 231.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company's stock worth $114,847,000 after purchasing an additional 2,392,124 shares in the last quarter. Marshall Wace LLP raised its position in shares of Global-e Online by 182.0% during the 2nd quarter. Marshall Wace LLP now owns 3,656,115 shares of the company's stock worth $122,626,000 after purchasing an additional 2,359,435 shares during the last quarter. Dragoneer Investment Group LLC raised its position in shares of Global-e Online by 20.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 10,056,015 shares of the company's stock worth $337,279,000 after purchasing an additional 1,708,655 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. lifted its stake in Global-e Online by 91.0% in the 2nd quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company's stock valued at $94,680,000 after buying an additional 1,345,156 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GLBE. Truist Financial lowered their target price on Global-e Online from $43.00 to $42.00 and set a "hold" rating on the stock in a report on Thursday, February 26th. Morgan Stanley restated an "overweight" rating on shares of Global-e Online in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Global-e Online in a research note on Monday, December 29th. Wall Street Zen upgraded Global-e Online from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Finally, Needham & Company LLC boosted their target price on shares of Global-e Online from $40.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.80.

Global-e Online Trading Up 0.7%

Shares of GLBE opened at $34.78 on Friday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 94.00 and a beta of 1.24. The stock's fifty day simple moving average is $35.85 and its 200 day simple moving average is $36.48. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21.

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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