ING Groep NV Sells 70,000 Shares of Global-e Online Ltd. $GLBE

ING Groep NV lessened its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 977,000 shares of the company’s stock after selling 70,000 shares during the period. ING Groep NV owned approximately 0.58% of Global-e Online worth $38,406,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares during the period. Geneos Wealth Management Inc. boosted its holdings 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 acquiring an additional 528 shares during the period. Tower Research Capital LLC TRC boosted its holdings 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 acquiring an additional 1,616 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after acquiring an additional 1,376 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Global-e Online by 28.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock worth $106,000 after acquiring an additional 649 shares during the period. Institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Global-e Online in a report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 price objective for the company. Bank of America assumed coverage on shares of Global-e Online in a research report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price target for the company. Truist Financial dropped their price target on shares of Global-e Online from $37.00 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.92.

Insiders Place Their Bets

In other Global-e Online news, CEO Amir Schlachet sold 16,666 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $33.34, for a total transaction of $555,644.44. Following the sale, the chief executive officer owned 4,216,724 shares of the company’s stock, valued at approximately $140,585,578.16. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Nir Debbi sold 9,233 shares of the business’s stock in a transaction 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 directly owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. The trade was a 0.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 231,554 shares of company stock valued at $7,645,702. 11.60% of the stock is currently owned by insiders.

Global-e Online Stock Performance

NASDAQ GLBE opened at $32.13 on Friday. The firm’s fifty day moving average price is $30.94 and its two-hundred day moving average price is $34.78. The stock has a market cap of $5.45 billion, a PE ratio of 49.43 and a beta of 1.16. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $41.94.

Global-e Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $252.09 million for the quarter, compared to analysts’ expectations of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The company’s revenue was up 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. As a group, sell-side analysts predict that Global-e Online Ltd. will post 1.12 earnings per share for the current fiscal year.

About Global-e Online

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.