Migdal Insurance & Financial Holdings Ltd. Raises Stock Holdings in Global-e Online Ltd. $GLBE

Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 50.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 775,000 shares of the company’s stock after buying an additional 260,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Global-e Online were worth $27,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GLBE. North Peak Capital Management LLC acquired a new position in shares of Global-e Online in the 2nd quarter worth approximately $88,481,000. Wasatch Advisors LP increased its stake in Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after purchasing an additional 2,392,124 shares during the period. Marshall Wace LLP lifted its position in shares of Global-e Online by 182.0% during the second quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock worth $122,626,000 after purchasing an additional 2,359,435 shares in the last quarter. Dragoneer Investment Group LLC lifted its position in shares of Global-e Online by 20.5% during the second quarter. Dragoneer Investment Group LLC now owns 10,056,015 shares of the company’s stock worth $337,279,000 after purchasing an additional 1,708,655 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. boosted its stake in shares of Global-e Online by 91.0% in the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock valued at $94,680,000 after purchasing an additional 1,345,156 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Trading Down 4.1%

Shares of GLBE stock opened at $35.98 on Wednesday. The firm has a fifty day moving average price of $38.92 and a 200 day moving average price of $36.04. The company has a market cap of $6.11 billion, a P/E ratio of 1,199.73 and a beta of 1.24. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $220.78 million for the quarter, compared to the consensus estimate of $217.95 million. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The business’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.13) EPS. On average, equities analysts forecast that Global-e Online Ltd. will post 0.25 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GLBE shares. Truist Financial set a $43.00 target price on shares of Global-e Online in a research note on Tuesday. Needham & Company LLC upped their price objective on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. The Goldman Sachs Group lifted their target price on Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. Finally, Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Global-e Online has a consensus rating of “Moderate Buy” and an average price target of $50.09.

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.