Spyglass Capital Management LLC reduced its stake in Global-e Online Ltd. (NASDAQ:GLBE – Free Report) by 27.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,937,769 shares of the company’s stock after selling 745,544 shares during the period. Global-e Online comprises about 4.2% of Spyglass Capital Management LLC’s holdings, making the stock its 11th biggest position. Spyglass Capital Management LLC’s holdings in Global-e Online were worth $59,780,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of GLBE. Royal Bank of Canada grew its position in Global-e Online by 2.8% during the 1st quarter. Royal Bank of Canada now owns 37,100 shares of the company’s stock worth $1,145,000 after purchasing an additional 996 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Global-e Online in the first quarter worth $1,144,000. Lazard Asset Management LLC lifted its stake in shares of Global-e Online by 4.7% during the first quarter. Lazard Asset Management LLC now owns 98,748 shares of the company’s stock worth $3,046,000 after buying an additional 4,428 shares during the period. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Global-e Online during the first quarter worth $239,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Global-e Online during the first quarter valued at $2,725,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Global-e Online
In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $36.81, for a total transaction of $920,213.19. Following the sale, the chief operating officer directly owned 3,931,686 shares of the company’s stock, valued at approximately $144,725,361.66. This trade represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amir Schlachet sold 24,999 shares of Global-e Online stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $37.09, for a total value of $927,212.91. Following the transaction, the chief executive officer owned 4,116,728 shares of the company’s stock, valued at $152,689,441.52. The trade was a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 319,914 shares of company stock valued at $10,989,302. 11.60% of the stock is owned by insiders.
Wall Street Analyst Weigh In
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Global-e Online Price Performance
Shares of Global-e Online stock opened at $38.90 on Wednesday. The firm has a fifty day moving average price of $34.23 and a 200 day moving average price of $33.77. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $41.94. The stock has a market cap of $6.60 billion, a PE ratio of 59.85 and a beta of 1.06.
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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