Norges Bank Takes Position in Global-e Online Ltd. $GLBE

Norges Bank purchased a new stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,300,016 shares of the company’s stock, valued at approximately $51,104,000. Norges Bank owned 0.77% of Global-e Online at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of Global-e Online by 87.4% during the 1st 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. lifted its stake in shares of Global-e Online by 17.8% in the 1st 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. lifted its stake in shares of Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Global-e Online during the second quarter valued at approximately $5,428,000. Finally, Brown Advisory Inc. bought a new stake in shares of Global-e Online during the second quarter valued at approximately $726,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 value of $311,152.10. Following the completion of the transaction, the president owned 4,559,466 shares in the company, valued at $153,654,004.20. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Shahar Tamari sold 25,949 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $34.79, for a total value of $902,765.71. Following the transaction, the chief operating officer directly owned 3,790,225 shares in the company, valued at approximately $131,861,927.75. The trade was a 0.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 231,554 shares of company stock worth $7,645,702 in the last three months. Insiders own 11.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GLBE. Zacks Research downgraded Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. KeyCorp dropped their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Global-e Online in a research report on Wednesday, May 13th. Bank of America began coverage on shares of Global-e Online in a research note on Tuesday, March 31st. They issued a “buy” rating and a $43.00 price target for the company. Finally, Wall Street Zen cut shares of Global-e Online from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.92.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $32.13 on Monday. 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 $30.94 and its 200 day moving average is $34.78. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 49.43 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The business’s revenue for the quarter was up 32.8% compared to the same quarter last year. On average, equities analysts expect that Global-e Online Ltd. will post 1.12 EPS 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.