Dragoneer Investment Group LLC Trims Stake in Global-e Online Ltd. $GLBE

Dragoneer Investment Group LLC lessened its position in Global-e Online Ltd. (NASDAQ:GLBE) by 90.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,020,315 shares of the company’s stock after selling 10,095,314 shares during the quarter. Global-e Online makes up about 1.3% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 11th largest holding. Dragoneer Investment Group LLC owned about 0.60% of Global-e Online worth $35,436,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its stake in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after purchasing an additional 448 shares during the period. Geneos Wealth Management Inc. lifted its position in Global-e Online by 67.2% during 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 during the period. California State Teachers Retirement System boosted its holdings in shares of Global-e Online by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 116,092 shares of the company’s stock valued at $4,564,000 after buying an additional 533 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of Global-e Online by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 52,461 shares of the company’s stock valued at $2,062,000 after buying an additional 536 shares in the last quarter. Finally, MCF Advisors LLC grew its position in shares of Global-e Online by 62.4% in the 2nd quarter. MCF Advisors LLC now owns 1,437 shares of the company’s stock worth $50,000 after buying an additional 552 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Global-e Online Stock Performance

Shares of Global-e Online stock opened at $36.11 on Thursday. The company has a 50-day simple moving average of $38.91 and a two-hundred day simple moving average of $34.63. The stock has a market capitalization of $6.13 billion, a PE ratio of 41.99 and a beta of 1.00. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $43.99.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The firm had revenue of $299.00 million for the quarter. As a group, equities research analysts forecast that Global-e Online Ltd. will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling at Global-e Online

In related news, CEO Amir Schlachet sold 24,999 shares of the 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 sale, the chief executive officer directly owned 3,716,732 shares of the company’s stock, valued at $142,127,831.68. This trade represents a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Nir Debbi sold 8,332 shares of Global-e Online stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $37.23, for a total value of $310,200.36. Following the completion of the sale, the president owned 4,407,371 shares of the company’s stock, valued at $164,086,422.33. The trade was a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 658,374 shares of company stock worth $26,046,181. Insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Global-e Online in a research note on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 target price on shares of Global-e Online in a research note on Tuesday, September 1st. Zacks Research upgraded shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. UBS Group set a $54.00 price target on Global-e Online and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Truist Financial upped their price target on Global-e Online from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. One equities research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.69.

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.