SG Americas Securities LLC Grows Position in Global-e Online Ltd. $GLBE

SG Americas Securities LLC raised its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,365,092 shares of the company’s stock after acquiring an additional 81,784 shares during the period. SG Americas Securities LLC’s holdings in Global-e Online were worth $42,113,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Global-e Online during the fourth quarter worth about $39,000. Geneos Wealth Management Inc. grew its position in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Global-e Online by 780.7% in the 2nd 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 in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Global-e Online in the 4th quarter worth about $72,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GLBE shares. Needham & Company LLC reissued a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Global-e Online in a report on Wednesday, May 13th. Weiss Ratings lowered Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating and issued a $40.00 price objective on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, Wall Street Zen downgraded Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

Insider Activity at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 2,110 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $32.51, for a total transaction of $68,596.10. Following the sale, the chief operating officer directly owned 4,000,543 shares of the company’s stock, valued at $130,057,652.93. This represents a 0.05% 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, President Nir Debbi sold 4,166 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $32.47, for a total transaction of $135,270.02. Following the transaction, the president owned 4,554,851 shares of the company’s stock, valued at $147,896,011.97. This represents a 0.09% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 244,054 shares of company stock worth $7,967,800. Company insiders own 11.60% of the company’s stock.

Global-e Online Price Performance

NASDAQ:GLBE opened at $32.17 on Wednesday. The business has a fifty day simple moving average of $31.38 and a two-hundred day simple moving average of $34.25. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $41.94. The company has a market capitalization of $5.46 billion, a P/E ratio of 49.49 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The firm had revenue of $252.09 million for the quarter, compared to analyst estimates of $250.78 million. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.The business’s revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share. As a group, analysts anticipate 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.