Next Century Growth Investors LLC Increases Stake in Global-e Online Ltd. $GLBE

Next Century Growth Investors LLC raised its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 274,708 shares of the company’s stock after buying an additional 76,452 shares during the period. Next Century Growth Investors LLC owned about 0.16% of Global-e Online worth $10,799,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vitruvian Partners LLP increased its holdings in Global-e Online by 23.1% during the third 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. Annex Advisory Services LLC increased its stake in shares of Global-e Online by 64.4% in the fourth quarter. Annex Advisory Services LLC now owns 640,016 shares of the company’s stock worth $25,159,000 after purchasing an additional 250,625 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Global-e Online by 105.3% in the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock worth $22,727,000 after purchasing an additional 296,466 shares in the last quarter. NZS Capital LLC increased its stake in shares of Global-e Online by 39.3% in the third quarter. NZS Capital LLC now owns 950,631 shares of the company’s stock worth $33,995,000 after purchasing an additional 268,328 shares in the last quarter. Finally, Spyglass Capital Management LLC increased its stake in shares of Global-e Online by 63.0% in the third quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock worth $96,665,000 after purchasing an additional 1,044,960 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLBE. Truist Financial raised shares of Global-e Online from a “hold” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $39.00 in a research note on Wednesday. Wall Street Zen cut shares of Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Finally, KeyCorp reduced their price objective on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.33.

Insider Activity at Global-e Online

In related news, COO Shahar Tamari sold 25,949 shares of the firm’s stock in a transaction 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 directly owned 3,790,225 shares of the company’s stock, valued at approximately $131,861,927.75. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Nir Debbi sold 9,233 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $33.70, for a total transaction of $311,152.10. Following the transaction, the president directly owned 4,559,466 shares of the company’s stock, valued at $153,654,004.20. The trade was a 0.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 248,220 shares of company stock valued at $8,183,640. Corporate insiders own 11.60% of the company’s stock.

Global-e Online Stock Performance

GLBE opened at $32.73 on Friday. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 50.35 and a beta of 1.16. The company has a fifty day moving average of $31.19 and a 200 day moving average of $34.67. Global-e Online Ltd. has a fifty-two week low of $26.84 and a fifty-two week high of $41.94.

Global-e Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. Global-e Online’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period last year, the company posted ($0.11) earnings per share. On average, equities research analysts forecast that Global-e Online Ltd. will post 1.11 earnings per share for the current 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.