Handelsbanken Fonder AB Grows Stock Position in Global-e Online Ltd. $GLBE

Handelsbanken Fonder AB grew its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 38.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 174,989 shares of the company’s stock after purchasing an additional 48,145 shares during the period. Handelsbanken Fonder AB’s holdings in Global-e Online were worth $6,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wasatch Advisors LP increased its holdings in shares of Global-e Online by 34.0% during the 1st quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock valued at $199,247,000 after purchasing an additional 1,637,482 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Global-e Online by 68.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after buying an additional 2,387,242 shares during the period. Contour Asset Management LLC grew its position in Global-e Online by 4.6% during the fourth quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock valued at $190,342,000 after buying an additional 211,034 shares during the period. Arohi Asset Management PTE Ltd. increased its holdings in Global-e Online by 0.6% in the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock valued at $148,604,000 after buying an additional 23,213 shares in the last quarter. Finally, Brown Capital Management LLC raised its position in shares of Global-e Online by 0.6% in the fourth quarter. Brown Capital Management LLC now owns 2,404,856 shares of the company’s stock worth $94,535,000 after acquiring an additional 15,014 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Global-e Online news, CEO Amir Schlachet sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00. Following the transaction, the chief executive officer directly owned 3,965,422 shares of the company’s stock, valued at $167,340,808.40. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Shahar Tamari sold 28,623 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the sale, the chief operating officer owned 3,956,685 shares of the company’s stock, valued at $142,519,793.70. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 473,773 shares of company stock worth $17,707,863. Insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

GLBE has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Truist Financial raised their price objective on Global-e Online from $39.00 to $41.00 and gave the company a “buy” rating in a report on Friday, July 24th. The Goldman Sachs Group restated a “buy” rating on shares of Global-e Online in a research report on Wednesday. Morgan Stanley upped their target price on Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Benchmark reissued a “buy” rating on shares of Global-e Online in a research note on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Global-e Online presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.23.

Global-e Online Price Performance

NASDAQ GLBE opened at $42.36 on Friday. The company has a market cap of $7.19 billion, a PE ratio of 49.26 and a beta of 1.03. The stock’s 50 day simple moving average is $36.82 and its 200-day simple moving average is $34.02. Global-e Online Ltd. has a 1-year low of $26.84 and a 1-year high of $43.99.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. The firm had revenue of $299.00 million during the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. On average, equities research analysts anticipate that Global-e Online Ltd. will post 1.13 EPS for the current fiscal year.

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.