SG Americas Securities LLC Buys 635,945 Shares of Global-e Online Ltd. $GLBE

SG Americas Securities LLC lifted its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 98.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,283,308 shares of the company’s stock after purchasing an additional 635,945 shares during the period. SG Americas Securities LLC owned 0.76% of Global-e Online worth $50,447,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. IFP Advisors Inc lifted its stake in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after purchasing an additional 448 shares during the last quarter. Polar Asset Management Partners Inc. grew its holdings in Global-e Online by 1.4% during the third quarter. Polar Asset Management Partners Inc. now owns 94,523 shares of the company’s stock valued at $3,380,000 after purchasing an additional 1,323 shares during the period. Morningstar Investment Management LLC purchased a new stake in Global-e Online in the third quarter worth $941,000. Woodline Partners LP bought a new stake in shares of Global-e Online in the third quarter valued at $416,000. Finally, Wasatch Advisors LP raised its stake in shares of Global-e Online by 0.6% in the third quarter. Wasatch Advisors LP now owns 3,443,071 shares of the company’s stock valued at $123,124,000 after buying an additional 18,889 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-e Online Price Performance

Global-e Online stock opened at $31.70 on Wednesday. The firm has a market capitalization of $5.38 billion, a P/E ratio of 85.68 and a beta of 1.24. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $43.21. The business has a fifty day moving average price of $34.90 and a 200-day moving average price of $36.46.

Analysts Set New Price Targets

A number of research analysts have recently commented on GLBE shares. Wall Street Zen cut Global-e Online from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial decreased their price objective on Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Piper Sandler reaffirmed an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Morgan Stanley reiterated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Finally, Benchmark lifted their target price on shares of Global-e Online from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.80.

Insiders Place Their Bets

In other news, President Nir Debbi sold 8,332 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $34.51, for a total transaction of $287,537.32. Following the sale, the president directly owned 3,897,506 shares in the company, valued at $134,502,932.06. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 16,666 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the completion of the sale, the chief executive officer directly owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. The trade was a 0.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 41,664 shares of company stock worth $1,425,158 in the last quarter. 11.60% of the stock is owned by company insiders.

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.