Handelsbanken Fonder AB Acquires 48,145 Shares of Global-e Online Ltd. $GLBE

Key Points

• Handelsbanken Fonder AB increased its Global-e Online stake by 38% in the second quarter, acquiring 48,145 shares for a total holding of 174,989 shares valued at approximately $6.1 million. Institutional investors collectively own 94.6% of the company.
• Global-e Online reported quarterly revenue of $299 million and earnings of $0.37 per share, with analysts projecting $1.13 in annual EPS. The stock opened at $42.36, near its 52-week high of $43.99.
• Analyst sentiment remains favorable, with 13 Buy ratings, two Holds and one Sell; the average price target is $47.23. However, insiders have sold 473,773 shares worth $17.7 million over the past 90 days.

Handelsbanken Fonder AB lifted its stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 38.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,989 shares of the company's stock after buying an additional 48,145 shares during the quarter. Handelsbanken Fonder AB owned about 0.10% of Global-e Online worth $6,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc grew its position in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock worth $38,000 after acquiring an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Global-e Online during the 4th quarter valued at about $39,000. Geneos Wealth Management Inc. raised its stake 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 valued at $47,000 after acquiring an additional 528 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock worth $61,000 after buying an additional 1,616 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Global-e Online during the 4th quarter valued at about $72,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Stock Performance

Shares of GLBE stock opened at $42.36 on Friday. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $43.99. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 49.26 and a beta of 1.03. The stock's 50-day simple moving average is $36.82 and its 200-day simple moving average is $34.02.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The company had revenue of $299.00 million during the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. As a group, equities analysts forecast that Global-e Online Ltd. will post 1.13 earnings per share for the current year.

Insider Transactions at Global-e Online

In other news, CEO Amir Schlachet sold 16,814 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $42.41, for a total transaction of $713,081.74. Following the sale, the chief executive officer directly owned 3,948,286 shares of the company's stock, valued at $167,446,809.26. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Nir Debbi sold 14,582 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $40.11, for a total value of $584,884.02. Following the completion of the transaction, the president directly owned 4,430,285 shares in the company, valued at approximately $177,698,731.35. The trade was a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 473,773 shares of company stock worth $17,707,863. Company insiders own 11.60% of the company's stock.

Analyst Upgrades and Downgrades

GLBE has been the subject of a number of analyst reports. Loop Capital set a $49.00 target price on Global-e Online in a report on Wednesday. Benchmark reissued a "buy" rating on shares of Global-e Online in a research report on Thursday. Raymond James Financial reiterated an "outperform" rating and issued a $48.00 target price on shares of Global-e Online in a research note on Thursday. Truist Financial boosted their target price on shares of Global-e Online from $39.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, UBS Group set a $54.00 price target on shares of Global-e Online and gave the company a "buy" rating in a research report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.23.

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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