Clal Insurance Enterprises Holdings Ltd Takes $3.35 Million Position in Global-e Online Ltd. $GLBE

Clal Insurance Enterprises Holdings Ltd bought a new position in Global-e Online Ltd. (NASDAQ:GLBE) during the 2nd quarter, Holdings Channel reports. The firm bought 100,000 shares of the company’s stock, valued at approximately $3,354,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. bought a new position in Global-e Online in the 1st quarter valued at $45,000. Geneos Wealth Management Inc. increased its stake in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after buying an additional 528 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Global-e Online by 52.9% in the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock valued at $50,000 after buying an additional 488 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Global-e Online during the 1st quarter worth about $68,000. Finally, ASR Vermogensbeheer N.V. bought a new stake in Global-e Online during the 1st quarter worth about $122,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Price Performance

GLBE opened at $37.01 on Wednesday. The firm has a 50 day simple moving average of $35.62 and a 200 day simple moving average of $34.22. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The company has a market cap of $6.28 billion, a price-to-earnings ratio of -217.71, a price-to-earnings-growth ratio of 1.87 and a beta of 1.25.

Global-e Online declared that its board has authorized a share buyback plan on Thursday, September 4th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GLBE shares. Zacks Research raised shares of Global-e Online to a “hold” rating in a research note on Friday, August 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Global-e Online in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on Global-e Online from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Benchmark reissued a “buy” rating on shares of Global-e Online in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.91.

About Global-e Online

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.