CenterBook Partners LP Has $7.79 Million Position in Global-e Online Ltd. $GLBE

CenterBook Partners LP lessened its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 30.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 217,693 shares of the company’s stock after selling 97,331 shares during the period. CenterBook Partners LP owned approximately 0.13% of Global-e Online worth $7,785,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Global-e Online by 87.4% in the 1st quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock worth $2,684,000 after buying an additional 35,120 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Global-e Online by 17.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after acquiring an additional 8,239 shares during the last quarter. Geneos Wealth Management Inc. increased 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 acquiring an additional 528 shares during the period. Stephens Investment Management Group LLC raised its stake in Global-e Online by 38.5% during the 2nd quarter. Stephens Investment Management Group LLC now owns 235,420 shares of the company’s stock valued at $7,896,000 after purchasing an additional 65,461 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Global-e Online by 43.8% in the 2nd quarter. Asset Management One Co. Ltd. now owns 57,285 shares of the company’s stock valued at $1,921,000 after purchasing an additional 17,455 shares during the period. Institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GLBE shares. Piper Sandler downgraded shares of Global-e Online from an “overweight” rating to a “mixed” rating in a report on Monday, February 2nd. Benchmark reissued a “buy” rating on shares of Global-e Online in a research report on Friday, January 16th. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Truist Financial set a $43.00 price objective on Global-e Online in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Global-e Online presently has an average rating of “Moderate Buy” and a consensus price target of $49.36.

Global-e Online Stock Down 6.2%

NASDAQ:GLBE opened at $29.70 on Wednesday. The firm has a market capitalization of $5.04 billion, a PE ratio of 990.33 and a beta of 1.24. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The firm has a 50-day moving average price of $37.44 and a 200 day moving average price of $36.19.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The company had revenue of $220.78 million for the quarter, compared to analyst estimates of $217.95 million. During the same period in the prior year, the company posted ($0.13) EPS. The company’s revenue was up 25.5% compared to the same quarter last year. On average, research analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current year.

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.