Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in Global-e Online Ltd. $GLBE

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 88,328 shares of Global-e Online worth approximately $2.725 million, representing about 0.05% of the company. Institutional investors and hedge funds collectively own 94.60% of GLBE.
• Global-e Online insiders sold 319,914 shares valued at roughly $10.99 million over the past 90 days, including significant sales by the CEO and COO; insiders retain an 11.60% ownership stake.
• Analysts maintain a generally positive view, with the stock carrying a consensus “Moderate Buy” rating and a $44.50 average price target, compared with a recent opening price of $39.31.

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 88,328 shares of the company's stock, valued at approximately $2,725,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.05% of Global-e Online at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GLBE. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online in the fourth quarter valued at approximately $39,000. IFP Advisors Inc grew its holdings in Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after buying 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 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock worth $47,000 after acquiring an additional 528 shares during the last quarter. Tower Research Capital LLC TRC increased its stake 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 acquiring an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Global-e Online during the 4th quarter worth $72,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Global-e Online news, COO Shahar Tamari sold 28,623 shares of the business's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the completion of the transaction, the chief operating officer owned 3,956,685 shares in the company, valued at $142,519,793.70. The trade was a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 58,331 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.21, for a total transaction of $2,112,165.51. Following the completion of the sale, the chief executive officer directly owned 4,141,727 shares in the company, valued at approximately $149,971,934.67. This represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 319,914 shares of company stock worth $10,989,302 in the last 90 days. Corporate insiders own 11.60% of the company's stock.

Global-e Online Stock Performance

GLBE stock opened at $39.31 on Friday. The company's 50 day moving average price is $34.82 and its 200 day moving average price is $33.80. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 60.48 and a beta of 1.06. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $41.94.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and issued a $48.00 price objective on shares of Global-e Online in a report on Wednesday. BMO Capital Markets assumed coverage on shares of Global-e Online in a report on Tuesday, April 21st. They issued an "outperform" rating and a $42.00 target price on the stock. Needham & Company LLC reissued a "buy" rating on shares of Global-e Online in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Global-e Online from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Benchmark reaffirmed a "buy" rating on shares of Global-e Online in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.50.

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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