Harel Insurance Investments & Financial Services Ltd. Increases Position in Global-e Online Ltd. $GLBE

Key Points

• Harel Insurance raised its stake in Global‑e by 31.7%, buying 490,888 shares to hold 2,041,555 shares (about 1.20% of the company) valued at roughly $80.25 million.
• Analyst sentiment is broadly positive with a consensus "Buy" rating and an average target price of $46.77, though some firms have trimmed targets recently.
• Company insiders have been net sellers: the CEO and COO sold shares recently and insiders disposed of 142,709 shares worth $4.78 million in the last quarter, leaving insiders with about 11.6% ownership.

Harel Insurance Investments & Financial Services Ltd. lifted its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,041,555 shares of the company's stock after purchasing an additional 490,888 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned about 1.20% of Global-e Online worth $80,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of 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 purchasing an additional 448 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Global-e Online by 67.2% in 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 in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of 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 worth $106,000 after purchasing an additional 649 shares in the last quarter. Prostatis Group LLC increased its stake in shares of Global-e Online by 8.8% in the third quarter. Prostatis Group LLC now owns 8,113 shares of the company's stock worth $290,000 after purchasing an additional 659 shares in the last quarter. Finally, CWM LLC grew its stake in Global-e Online by 5.6% during the third quarter. CWM LLC now owns 21,331 shares of the company's stock valued at $763,000 after acquiring an additional 1,134 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GLBE shares. Bank of America started coverage on shares of Global-e Online in a research note on Tuesday, March 31st. They set a "buy" rating and a $43.00 target price for the company. Weiss Ratings raised shares of Global-e Online from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Friday, March 27th. Morgan Stanley reaffirmed an "overweight" rating on shares of Global-e Online in a research note on Thursday, February 19th. KeyCorp cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Finally, Truist Financial cut their target price on shares of Global-e Online from $42.00 to $37.00 and set a "hold" rating for the company in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Global-e Online currently has an average rating of "Buy" and a consensus target price of $46.77.

Global-e Online Trading Down 2.4%

Global-e Online stock opened at $31.61 on Wednesday. The firm has a 50-day moving average price of $32.76 and a 200-day moving average price of $35.58. The firm has a market capitalization of $5.37 billion, a PE ratio of 85.43 and a beta of 1.18. Global-e Online Ltd. has a 12-month low of $27.80 and a 12-month high of $43.21.

Insider Transactions at Global-e Online

In other news, CEO Amir Schlachet sold 16,666 shares of the firm's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $33.65, for a total value of $560,810.90. Following the completion of the sale, the chief executive officer owned 3,984,550 shares in the company, valued at approximately $134,080,107.50. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 5,190 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $33.06, for a total transaction of $171,581.40. Following the completion of the sale, the chief operating officer owned 3,785,035 shares of the company's stock, valued at $125,133,257.10. This trade represents a 0.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 142,709 shares of company stock worth $4,783,382. 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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