Spyglass Capital Management LLC Has $68.02 Million Stock Position in Global-e Online Ltd. $GLBE

Spyglass Capital Management LLC increased its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,958,379 shares of the company’s stock after acquiring an additional 20,610 shares during the quarter. Global-e Online comprises approximately 3.7% of Spyglass Capital Management LLC’s holdings, making the stock its 14th largest holding. Spyglass Capital Management LLC’s holdings in Global-e Online were worth $68,015,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wasatch Advisors LP increased its stake in Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after acquiring an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Global-e Online by 68.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after acquiring an additional 2,387,242 shares during the period. Janus Henderson Group PLC grew its holdings 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 worth $89,213,000 after purchasing an additional 2,131,047 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 worth $72,968,000 after purchasing an additional 2,037,962 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. increased its position in shares of Global-e Online by 91.0% during the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock valued at $94,680,000 after purchasing an additional 1,345,156 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Stock Performance

Shares of NASDAQ:GLBE opened at $37.35 on Tuesday. The company’s fifty day moving average is $38.50 and its 200-day moving average is $34.39. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $43.99. The company has a market capitalization of $6.34 billion, a PE ratio of 43.43 and a beta of 1.03.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Tuesday, June 30th. The company reported $0.37 earnings per share (EPS) for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The business had revenue of $299.00 million during the quarter. On average, analysts forecast that Global-e Online Ltd. will post 1.32 EPS for the current year.

Insiders Place Their Bets

In other news, COO Shahar Tamari sold 24,999 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $41.63, for a total value of $1,040,708.37. Following the transaction, the chief operating officer directly owned 3,856,689 shares of the company’s stock, valued at $160,553,963.07. The trade was a 0.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amir Schlachet sold 81,556 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $42.30, for a total value of $3,449,818.80. Following the sale, the chief executive officer owned 3,766,730 shares in the company, valued at approximately $159,332,679. This trade represents a 2.12% 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 have sold 616,482 shares of company stock valued at $24,348,806. 11.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

GLBE has been the subject of a number of recent research reports. Citigroup restated a “market outperform” rating on shares of Global-e Online in a research note on Thursday, August 13th. UBS Group set a $54.00 price target on shares of Global-e Online and gave the company a “buy” rating in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Global-e Online from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. BMO Capital Markets raised their price objective on shares of Global-e Online from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $48.00 price objective on shares of Global-e Online in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.69.

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.