Janus Henderson Group PLC Boosts Position in Global-e Online Ltd. $GLBE

Key Points

• Janus Henderson increased its Global-e Online stake by 4% in the first quarter, adding 91,384 shares to own 2.36 million shares valued at approximately $72.8 million. Institutional investors and hedge funds collectively own 94.6% of GLBE.
• Company insiders sold 319,914 shares worth about $11.0 million over the past 90 days, including sales by the CEO and president. Insiders retain an 11.6% ownership stake.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $44.50 price target, while GLBE recently traded at $39.31.

Janus Henderson Group PLC grew its stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,360,866 shares of the company's stock after buying an additional 91,384 shares during the period. Janus Henderson Group PLC owned 1.39% of Global-e Online worth $72,833,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GLBE. Wasatch Advisors LP boosted its holdings in shares of Global-e Online by 231.8% in the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company's stock valued at $114,847,000 after acquiring an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company's stock valued at $230,842,000 after purchasing an additional 2,387,242 shares during the period. Arohi Asset Management PTE Ltd. boosted its stake in shares of Global-e Online by 91.0% in the second 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. Norges Bank purchased a new stake in shares of Global-e Online during the 4th quarter worth $51,104,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Global-e Online by 197.8% during the second quarter. Balyasny Asset Management L.P. now owns 1,545,096 shares of the company's stock worth $51,823,000 after buying an additional 1,026,316 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Nir Debbi sold 9,233 shares of Global-e Online stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $33.70, for a total transaction of $311,152.10. Following the sale, the president owned 4,559,466 shares in the company, valued at $153,654,004.20. This trade represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amir Schlachet sold 58,331 shares of the business's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $36.21, for a total transaction of $2,112,165.51. Following the transaction, the chief executive officer directly owned 4,141,727 shares in the company, valued at approximately $149,971,934.67. The trade was a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 319,914 shares of company stock worth $10,989,302 in the last 90 days. 11.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Benchmark reiterated a "buy" rating on shares of Global-e Online in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an "accumulate" rating in a research report on Wednesday, May 27th. Morgan Stanley decreased their price target on Global-e Online from $43.00 to $37.00 and set an "overweight" rating on the stock in a research note on Thursday, May 14th. Weiss Ratings cut shares of Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 8th. Finally, BMO Capital Markets assumed coverage on Global-e Online in a report on Tuesday, April 21st. They set an "outperform" rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.50.

Global-e Online Stock Performance

GLBE stock opened at $39.31 on Friday. The firm has a market cap of $6.67 billion, a P/E ratio of 60.48 and a beta of 1.06. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $41.94. The stock has a 50-day simple moving average of $34.82 and a 200-day simple moving average of $33.80.

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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