Goldman Sachs Group Inc. Sells 2,089,113 Shares of Global-e Online Ltd. $GLBE

Goldman Sachs Group Inc. lowered its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 47.4% in the fourth quarter, Holdings Channel reports. The fund owned 2,314,560 shares of the company’s stock after selling 2,089,113 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Global-e Online were worth $90,985,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Annex Advisory Services LLC raised its holdings in Global-e Online by 64.4% in the 4th quarter. Annex Advisory Services LLC now owns 640,016 shares of the company’s stock valued at $25,159,000 after buying an additional 250,625 shares during the last quarter. Vitruvian Partners LLP raised its holdings in Global-e Online by 23.1% in the 3rd quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock valued at $6,167,000 after buying an additional 32,405 shares during the last quarter. Legal & General Group Plc raised its holdings in Global-e Online by 105.3% in the 4th quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock valued at $22,727,000 after buying an additional 296,466 shares during the last quarter. NZS Capital LLC raised its holdings in Global-e Online by 39.3% in the 3rd quarter. NZS Capital LLC now owns 950,631 shares of the company’s stock valued at $33,995,000 after buying an additional 268,328 shares during the last quarter. Finally, Spyglass Capital Management LLC raised its holdings in Global-e Online by 63.0% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock valued at $96,665,000 after buying an additional 1,044,960 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

GLBE has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Global-e Online in a report on Wednesday, May 13th. UBS Group dropped their price objective on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Wall Street Zen lowered shares of Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Global-e Online in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.92.

Insiders Place Their Bets

In other Global-e Online news, COO Shahar Tamari sold 25,949 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $34.79, for a total transaction of $902,765.71. Following the completion of the transaction, the chief operating officer owned 3,790,225 shares in the company, valued at approximately $131,861,927.75. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the transaction, the chief executive officer owned 3,562,787 shares of the company’s stock, valued at approximately $122,738,012.15. The trade was a 0.47% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 248,220 shares of company stock worth $8,183,640. 11.60% of the stock is currently owned by insiders.

Global-e Online Stock Performance

Global-e Online stock opened at $32.38 on Wednesday. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $41.94. The firm has a 50 day moving average price of $31.03 and a two-hundred day moving average price of $34.72. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 49.82 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The firm had revenue of $252.09 million during the quarter, compared to analyst estimates of $250.78 million. During the same quarter last year, the business earned ($0.11) EPS. The company’s revenue was up 32.8% compared to the same quarter last year. As a group, equities research analysts predict that Global-e Online Ltd. will post 1.12 EPS 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.