Dragoneer Investment Group LLC reduced its position in Global-e Online Ltd. (NASDAQ:GLBE – Free Report) by 90.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,020,315 shares of the company’s stock after selling 10,095,314 shares during the period. Global-e Online makes up about 1.3% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 11th biggest position. Dragoneer Investment Group LLC’s holdings in Global-e Online were worth $35,436,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. California State Teachers Retirement System increased its position in Global-e Online by 3,399.9% during the second quarter. California State Teachers Retirement System now owns 4,066,709 shares of the company’s stock valued at $141,237,000 after acquiring an additional 3,950,515 shares during the last quarter. Wasatch Advisors LP boosted its position in Global-e Online by 231.8% in 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after purchasing an additional 2,387,242 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Global-e Online by 1,539.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock valued at $89,213,000 after purchasing an additional 2,131,047 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Global-e Online by 3,232.4% during the 2nd quarter. Wellington Management Group LLP now owns 2,101,009 shares of the company’s stock valued at $72,968,000 after purchasing an additional 2,037,962 shares during the period. Institutional investors own 94.60% of the company’s stock.
Wall Street Analyst Weigh In
GLBE has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $47.00 price objective on shares of Global-e Online in a research note on Tuesday, September 1st. Raymond James Financial restated an “outperform” rating and set a $48.00 target price on shares of Global-e Online in a research report on Thursday, August 13th. Benchmark reiterated a “buy” rating on shares of Global-e Online in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Finally, BMO Capital Markets boosted their price objective on shares of Global-e Online from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.69.
Global-e Online Trading Down 2.2%
Global-e Online stock opened at $36.11 on Thursday. The firm has a 50 day moving average of $38.91 and a 200 day moving average of $34.63. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 41.99 and a beta of 1.00. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $43.99.
Global-e Online (NASDAQ:GLBE – Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The company had revenue of $299.00 million for the quarter. On average, analysts predict that Global-e Online Ltd. will post 1.32 EPS for the current year.
Insider Activity
In related news, COO Shahar Tamari sold 24,999 shares of Global-e Online stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $38.41, for a total transaction of $960,211.59. Following the transaction, the chief operating officer owned 3,831,690 shares in the company, valued at approximately $147,175,212.90. The trade was a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Nir Debbi sold 8,332 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $37.23, for a total transaction of $310,200.36. Following the completion of the transaction, the president directly owned 4,407,371 shares of the company’s stock, valued at $164,086,422.33. This represents a 0.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 658,374 shares of company stock worth $26,046,181 in the last three months. Company insiders own 11.60% of the company’s stock.
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.
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