CenterBook Partners LP Sells 34,240 Shares of Global-e Online Ltd. $GLBE

CenterBook Partners LP lessened its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 15.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 183,453 shares of the company’s stock after selling 34,240 shares during the period. CenterBook Partners LP’s holdings in Global-e Online were worth $7,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLBE. 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 worth $38,000 after purchasing an additional 448 shares during the period. Geneos Wealth Management Inc. boosted 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 worth $47,000 after purchasing an additional 528 shares during the period. Tower Research Capital LLC TRC boosted its position in Global-e Online by 780.7% during the second 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 period. Jones Financial Companies Lllp boosted its position in Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after purchasing an additional 1,376 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Global-e Online by 28.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock worth $106,000 after purchasing an additional 649 shares during the period. Institutional investors own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BMO Capital Markets started coverage on shares of Global-e Online in a research report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an “accumulate” rating in a report on Wednesday, May 27th. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Bank of America started coverage on shares of Global-e Online in a report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Truist Financial lowered their price target on shares of Global-e Online from $37.00 to $34.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.92.

Global-e Online Stock Performance

Shares of Global-e Online stock opened at $32.13 on Monday. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $41.94. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 49.43 and a beta of 1.16. The company’s 50-day moving average price is $30.94 and its 200-day moving average price is $34.78.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $252.09 million for the quarter, compared to the consensus estimate of $250.78 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, sell-side analysts predict that Global-e Online Ltd. will post 1.12 earnings per share for the current year.

Insider Activity at Global-e Online

In related news, COO Shahar Tamari sold 8,333 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $33.59, for a total value of $279,905.47. Following the sale, the chief operating officer directly owned 4,033,875 shares of the company’s stock, valued at $135,497,861.25. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Nir Debbi sold 9,233 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $33.70, for a total transaction of $311,152.10. Following the completion of the sale, the president directly owned 4,559,466 shares in the company, valued at $153,654,004.20. This represents a 0.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 231,554 shares of company stock valued at $7,645,702 over the last three months. 11.60% of the stock is owned by corporate 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.