Temasek Holdings Private Ltd Sells 394,584 Shares of Global-e Online Ltd. $GLBE

Temasek Holdings Private Ltd reduced its position in Global-e Online Ltd. (NASDAQ:GLBE) by 15.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,096,739 shares of the company’s stock after selling 394,584 shares during the period. Temasek Holdings Private Ltd’s holdings in Global-e Online were worth $82,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GLBE. Wasatch Advisors LP boosted its position in shares of Global-e Online by 231.8% in the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after purchasing an additional 2,392,124 shares during the period. Arohi Asset Management PTE Ltd. boosted its position in shares of Global-e Online by 91.0% in the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock worth $94,680,000 after purchasing an additional 1,345,156 shares during the period. Norges Bank bought a new position in shares of Global-e Online in the fourth quarter worth approximately $51,104,000. Menora Mivtachim Holdings LTD. boosted its position in shares of Global-e Online by 4,543.4% in the third quarter. Menora Mivtachim Holdings LTD. now owns 1,296,424 shares of the company’s stock worth $46,360,000 after purchasing an additional 1,268,504 shares during the period. Finally, Spyglass Capital Management LLC boosted its position in shares of Global-e Online by 63.0% in the third quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock worth $96,665,000 after purchasing an additional 1,044,960 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $33.65, for a total transaction of $560,810.90. Following the completion of the transaction, the chief executive officer owned 3,984,550 shares in the company, valued at $134,080,107.50. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Shahar Tamari sold 25,949 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $34.79, for a total transaction of $902,765.71. Following the transaction, the chief operating officer owned 3,790,225 shares of the company’s stock, valued at $131,861,927.75. This trade represents a 0.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 223,222 shares of company stock worth $7,321,959 over the last 90 days. 11.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GLBE. Morgan Stanley dropped their price target on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Truist Financial upgraded shares of Global-e Online from a “hold” rating to a “buy” rating and upped their price target for the stock from $34.00 to $39.00 in a research report on Wednesday, June 10th. UBS Group dropped their price target on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. KeyCorp dropped their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, BMO Capital Markets assumed 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.33.

Global-e Online Stock Performance

Shares of NASDAQ:GLBE opened at $31.61 on Tuesday. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $41.94. The firm has a fifty day moving average price of $31.20 and a 200 day moving average price of $34.59. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 48.63 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, beating the consensus estimate 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 business had revenue of $252.09 million during the quarter, compared to analyst estimates of $250.78 million. During the same quarter last year, the business earned ($0.11) earnings per share. Global-e Online’s quarterly revenue was up 32.8% compared to the same quarter last year. As a group, research analysts predict that Global-e Online Ltd. will post 1.11 earnings per share for the current year.

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.