Granahan Investment Management LLC Sells 644,923 Shares of Global-e Online Ltd. $GLBE

Granahan Investment Management LLC decreased its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 54.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 546,969 shares of the company’s stock after selling 644,923 shares during the period. Granahan Investment Management LLC owned 0.32% of Global-e Online worth $16,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GLBE. IFP Advisors Inc increased its position in Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after acquiring an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Global-e Online in the fourth quarter worth about $39,000. Geneos Wealth Management Inc. lifted its position in shares of 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 purchasing an additional 528 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Global-e Online by 780.7% during the second 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 acquired a new position in shares of Global-e Online during the fourth quarter worth approximately $72,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Insider Buying and Selling

In related news, CEO Amir Schlachet sold 24,999 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $37.09, for a total value of $927,212.91. Following the transaction, the chief executive officer directly owned 4,116,728 shares in the company, valued at $152,689,441.52. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Nir Debbi sold 8,332 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $35.82, for a total transaction of $298,452.24. Following the completion of the transaction, the president directly owned 4,534,449 shares in the company, valued at approximately $162,423,963.18. The trade was a 0.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 319,914 shares of company stock valued at $10,989,302 over the last ninety days. Insiders own 11.60% of the company’s stock.

Global-e Online Trading Up 5.0%

Shares of NASDAQ GLBE opened at $36.21 on Friday. The firm has a market capitalization of $6.15 billion, a PE ratio of 55.71 and a beta of 1.06. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $41.94. The firm’s 50-day moving average is $33.85 and its 200-day moving average is $33.81.

Analyst Ratings Changes

A number of brokerages recently weighed in on GLBE. Truist Financial raised their price target on shares of Global-e Online from $39.00 to $41.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley reduced their price objective on Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Global-e Online in a research report on Wednesday, May 13th. Raymond James Financial reissued an “outperform” rating and issued a $42.00 target price on shares of Global-e Online in a research note on Wednesday, May 13th. Finally, Weiss Ratings cut Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.50.

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.