Legal & General Group Plc Has $22.73 Million Stock Holdings in Global-e Online Ltd. $GLBE

Key Points

• Legal & General Group Plc more than doubled its stake in Global-e Online in the fourth quarter, raising holdings by 105.3% to 578,139 shares valued at about $22.73 million.
• Several other institutional investors also boosted their positions, and hedge funds/institutions now own 94.60% of Global-e Online’s stock.
• Global-e Online reported better-than-expected quarterly earnings, posting EPS of $0.27 versus the $0.18 consensus and revenue growth of 32.8% year over year, while analysts keep a Moderate Buy rating with an average price target of $43.92.

Legal & General Group Plc grew its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 105.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 578,139 shares of the company's stock after acquiring an additional 296,466 shares during the period. Legal & General Group Plc owned 0.34% of Global-e Online worth $22,727,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Wasatch Advisors LP lifted its stake in shares of Global-e Online by 231.8% in the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company's stock valued at $114,847,000 after purchasing an additional 2,392,124 shares during the last quarter. Arohi Asset Management PTE Ltd. increased its position in Global-e Online by 91.0% during the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company's stock worth $94,680,000 after buying an additional 1,345,156 shares during the last quarter. Menora Mivtachim Holdings LTD. raised its holdings in Global-e Online by 4,543.4% during the third quarter. Menora Mivtachim Holdings LTD. now owns 1,296,424 shares of the company's stock valued at $46,360,000 after buying an additional 1,268,504 shares in the last quarter. Spyglass Capital Management LLC raised its holdings in Global-e Online by 63.0% during the third quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company's stock valued at $96,665,000 after buying an additional 1,044,960 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Global-e Online by 197.8% in 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 during the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Insider Activity at Global-e Online

In other news, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the sale, the chief executive officer owned 3,562,787 shares of the company's stock, valued at approximately $122,738,012.15. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shahar Tamari sold 25,949 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $34.79, for a total value of $902,765.71. Following the sale, the chief operating officer owned 3,790,225 shares in the company, valued at approximately $131,861,927.75. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 188,540 shares of company stock worth $6,204,213 over the last three months. Company insiders own 11.60% of the company's stock.

Global-e Online Price Performance

NASDAQ:GLBE opened at $30.64 on Monday. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $41.94. The company has a fifty day moving average price of $30.91 and a 200 day moving average price of $34.89. The stock has a market cap of $5.20 billion, a P/E ratio of 47.14 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The company had revenue of $252.09 million for the quarter, compared to analyst estimates of $250.78 million. During the same period last year, the business posted ($0.11) EPS. The business's quarterly revenue was up 32.8% on a year-over-year basis. As a group, equities research analysts anticipate that Global-e Online Ltd. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GLBE. Needham & Company LLC reissued a "buy" rating on shares of Global-e Online in a report on Wednesday. Morgan Stanley reduced their target price on Global-e Online from $43.00 to $37.00 and set an "overweight" rating for the company in a report on Thursday, May 14th. Benchmark reaffirmed a "buy" rating on shares of Global-e Online in a research report on Wednesday. KeyCorp lowered their price target on Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, February 19th. Finally, Wall Street Zen cut shares of Global-e Online from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.92.

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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