104,347 Shares in Global-e Online Ltd. $GLBE Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 104,347 shares of the company’s stock, valued at approximately $3,175,000. Hsbc Holdings PLC owned approximately 0.06% of Global-e Online as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Global-e Online by 87.4% during the first quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock worth $2,684,000 after acquiring an additional 35,120 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Global-e Online by 17.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock valued at $1,948,000 after purchasing an additional 8,239 shares during the period. Geneos Wealth Management Inc. grew its stake in Global-e Online by 67.2% during 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. Arrowstreet Capital Limited Partnership purchased a new stake in Global-e Online during the 2nd quarter worth about $5,428,000. Finally, Brown Advisory Inc. acquired a new stake in Global-e Online in the 2nd quarter valued at about $726,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Insider Activity at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 28,623 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the sale, the chief operating officer owned 3,956,685 shares of the company’s stock, valued at approximately $142,519,793.70. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Nir Debbi sold 9,233 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $33.70, for a total transaction of $311,152.10. Following the sale, the president owned 4,559,466 shares of the company’s stock, valued at $153,654,004.20. This represents a 0.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 319,914 shares of company stock valued at $10,989,302 over the last three months. 11.60% of the stock is owned by corporate insiders.

Global-e Online Stock Performance

GLBE opened at $36.21 on Friday. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $41.94. The company has a market cap of $6.15 billion, a P/E ratio of 55.71 and a beta of 1.06. The business’s 50-day simple moving average is $33.85 and its 200-day simple moving average is $33.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GLBE shares. UBS Group decreased their price objective on Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Wall Street Zen cut shares of Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Benchmark reissued a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Bank of America began coverage on shares of Global-e Online in a report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Global-e Online Company 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.