Vitruvian Partners LLP Raises Stock Holdings in Global-e Online Ltd. $GLBE

Key Points

• Vitruvian Partners LLP boosted its stake in Global-e Online by 21.9% in the fourth quarter, adding 37,767 shares to reach 210,209 shares valued at about $8.26 million.
• Global-e Online reported strong quarterly results, with EPS of $0.27 beating estimates and revenue rising 32.8% year over year to $252.09 million.
• Analyst sentiment remains mixed but generally positive: the stock carries a Moderate Buy consensus rating with an average price target of $44.17, though a few firms recently cut ratings or targets.

Vitruvian Partners LLP increased its position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 21.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 210,209 shares of the company's stock after acquiring an additional 37,767 shares during the period. Global-e Online comprises about 5.9% of Vitruvian Partners LLP's portfolio, making the stock its 5th biggest position. Vitruvian Partners LLP owned about 0.12% of Global-e Online worth $8,263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Global-e Online by 87.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,546 shares of the company's stock worth $218,000 after acquiring an additional 2,592 shares during the last quarter. GSA Capital Partners LLP grew its position in Global-e Online by 65.6% during the 4th quarter. GSA Capital Partners LLP now owns 51,856 shares of the company's stock worth $2,038,000 after acquiring an additional 20,539 shares during the last quarter. Handelsbanken Fonder AB grew its position in Global-e Online by 51.7% during the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company's stock worth $4,484,000 after acquiring an additional 38,869 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Global-e Online by 8.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 276,971 shares of the company's stock worth $10,888,000 after acquiring an additional 22,102 shares during the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. grew its position in Global-e Online by 2.6% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 858,583 shares of the company's stock worth $33,751,000 after acquiring an additional 21,400 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Weiss Ratings lowered Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 8th. KeyCorp reduced their price target on Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, February 19th. Benchmark upped their price target on Global-e Online from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. Jefferies Financial Group reiterated a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, Wall Street Zen lowered Global-e Online from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Global-e Online presently has an average rating of "Moderate Buy" and a consensus price target of $44.17.

Global-e Online Trading Down 0.6%

NASDAQ GLBE opened at $29.95 on Friday. The business's 50-day moving average price is $31.35 and its two-hundred day moving average price is $35.11. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $41.94. The firm has a market capitalization of $5.08 billion, a PE ratio of 46.08 and a beta of 1.18.

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

Insider Activity

In other news, President Nir Debbi sold 8,332 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $34.51, for a total value of $287,537.32. Following the transaction, the president directly owned 3,897,506 shares of the company's stock, valued at $134,502,932.06. The trade was a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amir Schlachet sold 16,666 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total value of $574,143.70. Following the completion of the transaction, the chief executive officer directly owned 3,562,787 shares in the company, valued at $122,738,012.15. This represents a 0.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 183,290 shares of company stock valued at $6,045,366 in the last ninety days. 11.60% of the stock is owned by company insiders.

About Global-e Online

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.

Want to see what other hedge funds are holding GLBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global-e Online Ltd. (NASDAQ:GLBE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.