Global-e Online Ltd. $GLBE Stock: Summit Creek Advisors LLC Lowers Holdings

Summit Creek Advisors LLC cut its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 16.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 144,193 shares of the company’s stock after selling 27,818 shares during the quarter. Global-e Online accounts for about 2.3% of Summit Creek Advisors LLC’s portfolio, making the stock its 16th largest position. Summit Creek Advisors LLC’s holdings in Global-e Online were worth $5,729,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its stake in shares of Global-e Online by 28.1% during the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after purchasing an additional 1,816,606 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Global-e Online by 3,232.4% in the second quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock worth $72,968,000 after buying an additional 2,037,962 shares during the period. Janus Henderson Group PLC boosted its position in shares of Global-e Online by 4.0% in the first quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company’s stock worth $72,833,000 after buying an additional 91,384 shares during the period. Spyglass Capital Management LLC boosted its position in shares of Global-e Online by 1.1% in the second quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company’s stock worth $68,015,000 after buying an additional 20,610 shares during the period. Finally, Keenan Capital LLC grew its stake in shares of Global-e Online by 4.8% in the second quarter. Keenan Capital LLC now owns 1,955,262 shares of the company’s stock valued at $67,906,000 after buying an additional 90,000 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Price Performance

Global-e Online stock opened at $42.97 on Friday. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $45.28. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 49.97 and a beta of 1.10. The firm’s fifty day moving average price is $39.81 and its 200 day moving average price is $35.84.

Global-e Online (NASDAQ:GLBE) last issued 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 for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. Analysts forecast that Global-e Online Ltd. will post 1.32 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Amir Schlachet sold 24,999 shares of Global-e Online stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $41.39, for a total transaction of $1,034,708.61. Following the sale, the chief executive officer directly owned 3,616,736 shares of the company’s stock, valued at approximately $149,696,703.04. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Shahar Tamari sold 27,957 shares of Global-e Online stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $44.48, for a total value of $1,243,527.36. Following the sale, the chief operating officer directly owned 3,728,736 shares in the company, valued at approximately $165,854,177.28. The trade was a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 742,889 shares of company stock worth $30,637,208 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.

Global-e Online News Roundup

Here are the key news stories impacting Global-e Online this week:

• Positive Sentiment: Analyst coverage cited in a recent report remains broadly favorable: 13 analysts rated GLBE Buy and three Hold, with an average price target of $48.08. Insider trading report
• Negative Sentiment: President Nir Debbi sold a combined 132,651 shares in transactions from November 2–5, while COO Shahar Tamari sold 28,228 shares on November 4–5. The sales may weigh on sentiment, although both executives retain multi-million-share holdings and the reported reductions were small relative to their positions. SEC filing for President’s trades SEC filing for COO’s trades

Analysts Set New Price Targets

Several equities research analysts recently commented on GLBE shares. UBS Group set a $54.00 target price on Global-e Online and gave the company a “buy” rating in a report on Thursday, August 13th. Zacks Research lowered Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Raymond James Financial restated an “outperform” rating and issued a $48.00 price target on shares of Global-e Online in a report on Thursday, August 13th. Truist Financial upped their price target on Global-e Online from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Global-e Online in a research report on Thursday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.08.

About Global-e Online

Global-e Online Ltd. (NASDAQ: GLBE) provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.

The company’s platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.

Founded in 2013, Global-e serves merchants and shoppers across international markets.