Keenan Capital LLC Raises Stock Holdings in Global-e Online Ltd. $GLBE

Keenan Capital LLC boosted its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,955,262 shares of the company’s stock after purchasing an additional 90,000 shares during the quarter. Global-e Online comprises 13.4% of Keenan Capital LLC’s investment portfolio, making the stock its 2nd biggest position. Keenan Capital LLC owned 1.15% of Global-e Online worth $67,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc lifted its holdings in shares of Global-e Online by 105.3% during the 4th quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock worth $22,727,000 after acquiring an additional 296,466 shares during the period. Vitruvian Partners LLP increased its stake in Global-e Online by 21.9% in the fourth quarter. Vitruvian Partners LLP now owns 210,209 shares of the company’s stock valued at $8,263,000 after acquiring an additional 37,767 shares during the last quarter. Empowered Funds LLC acquired a new position in Global-e Online during the first quarter valued at approximately $1,144,000. Handelsbanken Fonder AB raised its position in Global-e Online by 51.7% during the fourth quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company’s stock valued at $4,484,000 after purchasing an additional 38,869 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in Global-e Online by 28.1% during the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after purchasing an additional 1,816,606 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Insider Buying and Selling at Global-e Online

In related news, COO Shahar Tamari sold 28,623 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46. Following the sale, the chief operating officer owned 3,956,685 shares of the company’s stock, valued at $142,519,793.70. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amir Schlachet sold 100,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total value of $4,220,000.00. Following the completion of the sale, the chief executive officer owned 3,965,422 shares of the company’s stock, valued at $167,340,808.40. The trade was a 2.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 658,374 shares of company stock valued at $26,046,181 in the last ninety days. Insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Morgan Stanley boosted their price target on Global-e Online from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Loop Capital set a $49.00 price objective on Global-e Online in a research report on Wednesday, August 12th. Raymond James Financial reiterated an “outperform” rating and issued a $48.00 target price on shares of Global-e Online in a research report on Thursday, August 13th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $48.00 target price on shares of Global-e Online in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Global-e Online has a consensus rating of “Moderate Buy” and a consensus price target of $47.69.

Global-e Online Stock Performance

NASDAQ GLBE opened at $36.93 on Wednesday. The firm’s fifty day moving average price is $38.91 and its two-hundred day moving average price is $34.63. The stock has a market cap of $6.27 billion, a PE ratio of 42.94 and a beta of 1.00. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $43.99.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%.The company had revenue of $299.00 million during the quarter. As a group, sell-side analysts predict that Global-e Online Ltd. will post 1.32 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.