Meitav Investment House Ltd. Acquires 87,394 Shares of Global-e Online Ltd. $GLBE

Meitav Investment House Ltd. increased its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 704.8% in the third quarter, HoldingsChannel.com reports. The fund owned 99,794 shares of the company’s stock after acquiring an additional 87,394 shares during the period. Meitav Investment House Ltd.’s holdings in Global-e Online were worth $3,597,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GLBE. Robeco Institutional Asset Management B.V. boosted its position in shares of Global-e Online by 79.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 86,839 shares of the company’s stock valued at $3,105,000 after purchasing an additional 38,348 shares in the last quarter. North Peak Capital Management LLC purchased a new position in Global-e Online during the second quarter valued at $88,481,000. Asset Management One Co. Ltd. boosted its holdings in shares of Global-e Online by 43.8% during the 2nd quarter. Asset Management One Co. Ltd. now owns 57,285 shares of the company’s stock valued at $1,921,000 after buying an additional 17,455 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Global-e Online by 27.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,617,284 shares of the company’s stock worth $121,324,000 after buying an additional 770,028 shares during the period. Finally, CenterBook Partners LP increased its stake in shares of Global-e Online by 232.3% in the 2nd quarter. CenterBook Partners LP now owns 315,024 shares of the company’s stock worth $10,566,000 after acquiring an additional 220,233 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on GLBE. Benchmark reissued a “buy” rating on shares of Global-e Online in a research note on Friday. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. Needham & Company LLC raised their price target on Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Finally, Piper Sandler upped their price target on shares of Global-e Online from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Global-e Online has an average rating of “Moderate Buy” and an average target price of $49.91.

Global-e Online Stock Performance

Shares of NASDAQ:GLBE opened at $37.50 on Friday. The business has a 50-day simple moving average of $38.91 and a two-hundred day simple moving average of $35.97. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 1,250.42 and a beta of 1.24. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Global-e Online had a net margin of 0.82% and a return on equity of 0.81%. The firm had revenue of $220.78 million during the quarter, compared to analyst estimates of $217.95 million. During the same period in the previous year, the business posted ($0.13) earnings per share. The business’s revenue for the quarter was up 25.5% on a year-over-year basis. As a group, research analysts predict that Global-e Online Ltd. will post 0.25 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.