Public Employees Retirement System of Ohio Invests $1.58 Million in Global-e Online Ltd. $GLBE

Key Points

• Public Employees Retirement System of Ohio acquired 45,545 shares of Global-e Online worth approximately $1.58 million, while institutional investors collectively own 94.6% of the company.
• Analyst sentiment is favorable: Global-e has a consensus “Moderate Buy” rating and an average price target of $47.69, above its reported opening price of $38.37.
• Global-e reported quarterly revenue of $299 million and earnings of $0.37 per share, but insiders sold 633,147 shares valued at about $25.1 million during the last quarter.

Public Employees Retirement System of Ohio acquired a new stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 45,545 shares of the company's stock, valued at approximately $1,582,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its position in Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after purchasing an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Global-e Online in the fourth quarter valued at approximately $39,000. Geneos Wealth Management Inc. increased its position in shares of Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock worth $47,000 after purchasing an additional 528 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock worth $61,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Global-e Online during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GLBE shares. UBS Group set a $54.00 price objective on Global-e Online and gave the company a "buy" rating in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Global-e Online from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Morgan Stanley upped their price target on shares of Global-e Online from $44.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. Needham & Company LLC reiterated a "buy" rating and issued a $47.00 price target on shares of Global-e Online in a research note on Tuesday, September 1st. Finally, Zacks Research raised shares of Global-e Online from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $47.69.

Global-e Online Price Performance

NASDAQ:GLBE opened at $38.37 on Tuesday. The stock's 50 day moving average price is $38.86 and its two-hundred day moving average price is $34.62. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 44.62 and a beta of 1.00. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $43.99.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%.The company had revenue of $299.00 million during the quarter. Equities research analysts expect that Global-e Online Ltd. will post 1.32 EPS for the current year.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $41.63, for a total transaction of $1,040,708.37. Following the completion of the sale, the chief operating officer owned 3,856,689 shares of the company's stock, valued at $160,553,963.07. This trade represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amir Schlachet sold 24,999 shares of Global-e Online stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $38.24, for a total transaction of $955,961.76. Following the transaction, the chief executive officer directly owned 3,716,732 shares of the company's stock, valued at approximately $142,127,831.68. This trade represents a 0.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 633,147 shares of company stock valued at $25,077,030 in the last quarter. 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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