Wasatch Advisors LP raised its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE – Free Report) by 28.1% in the second quarter, Holdings Channel.com reports. The firm owned 8,275,194 shares of the company’s stock after buying an additional 1,816,606 shares during the period. Global-e Online comprises 1.9% of Wasatch Advisors LP’s portfolio, making the stock its 9th largest holding. Wasatch Advisors LP’s holdings in Global-e Online were worth $287,397,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake 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 valued at $2,684,000 after buying an additional 35,120 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Global-e Online by 17.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after buying an additional 8,239 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Global-e Online in the second quarter worth $5,428,000. Finally, Brown Advisory Inc. acquired a new stake in Global-e Online in the second quarter valued at $726,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.
Global-e Online Trading Down 0.7%
GLBE stock opened at $40.86 on Wednesday. The stock’s 50 day simple moving average is $36.26 and its 200 day simple moving average is $33.91. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $42.51. The firm has a market cap of $6.94 billion, a P/E ratio of 62.86 and a beta of 1.03.
Insider Buying and Selling at Global-e Online
Wall Street Analyst Weigh In
A number of research analysts have commented on GLBE shares. Morgan Stanley reduced their price objective on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Zacks Research downgraded shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Piper Sandler restated an “overweight” rating and issued a $48.00 target price on shares of Global-e Online in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.83.
View Our Latest Report on GLBE
Global-e Online 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.
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