Global-e Online Ltd. $GLBE Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 94.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,686 shares of the company’s stock after selling 544,029 shares during the period. Assenagon Asset Management S.A.’s holdings in Global-e Online were worth $1,070,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Global-e Online in the 4th quarter worth approximately $39,000. Geneos Wealth Management Inc. grew its position in Global-e Online by 67.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Global-e Online during the 4th quarter valued at approximately $72,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Price Performance

NASDAQ:GLBE opened at $35.83 on Thursday. The company’s fifty day moving average price is $31.68 and its 200-day moving average price is $34.06. Global-e Online Ltd. has a 1-year low of $26.84 and a 1-year high of $41.94. The firm has a market capitalization of $6.08 billion, a P/E ratio of 55.12 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLBE. BMO Capital Markets initiated coverage on shares of Global-e Online in a report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price target for the company. Bank of America initiated coverage on Global-e Online in a research report on Tuesday, March 31st. They issued a “buy” rating and a $43.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. UBS Group lowered their price target on Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Finally, Truist Financial upgraded Global-e Online from a “hold” rating to a “buy” rating and boosted their price target for the company from $34.00 to $39.00 in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.33.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 28,623 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the sale, the chief operating officer directly owned 3,956,685 shares of the company’s stock, valued at approximately $142,519,793.70. This trade represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Nir Debbi sold 5,180 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $34.66, for a total value of $179,538.80. Following the sale, the president directly owned 4,542,781 shares in the company, valued at $157,452,789.46. This represents a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 287,483 shares of company stock valued at $9,559,890. 11.60% of the stock is owned by insiders.

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.