Legal & General Group Plc Has $22.73 Million Position in Global-e Online Ltd. $GLBE

Legal & General Group Plc boosted its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 105.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 578,139 shares of the company’s stock after acquiring an additional 296,466 shares during the quarter. Legal & General Group Plc’s holdings in Global-e Online were worth $22,727,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vitruvian Partners LLP grew its stake in shares of Global-e Online by 21.9% in the 4th quarter. Vitruvian Partners LLP now owns 210,209 shares of the company’s stock valued at $8,263,000 after purchasing an additional 37,767 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Global-e Online by 87.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,546 shares of the company’s stock worth $218,000 after buying an additional 2,592 shares during the period. GSA Capital Partners LLP boosted its stake in Global-e Online by 65.6% in the 4th quarter. GSA Capital Partners LLP now owns 51,856 shares of the company’s stock valued at $2,038,000 after buying an additional 20,539 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Global-e Online by 51.7% in the 4th quarter. Handelsbanken Fonder AB now owns 114,076 shares of the company’s stock valued at $4,484,000 after buying an additional 38,869 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its position in Global-e Online by 8.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 276,971 shares of the company’s stock valued at $10,888,000 after acquiring an additional 22,102 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Insider Buying and Selling

In other news, President Nir Debbi sold 1,863 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $30.25, for a total value of $56,355.75. Following the transaction, the president owned 4,568,699 shares of the company’s stock, valued at approximately $138,203,144.75. This trade represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amir Schlachet sold 8,333 shares of Global-e Online stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $29.00, for a total transaction of $241,657.00. Following the sale, the chief executive officer owned 4,241,723 shares of the company’s stock, valued at approximately $123,009,967. This represents a 0.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 188,540 shares of company stock worth $6,204,213 over the last three months. 11.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on GLBE. KeyCorp cut their price objective on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. UBS Group lowered their target price on shares of Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 target price on shares of Global-e Online in a research report on Wednesday, May 13th. Truist Financial cut their price target on shares of Global-e Online from $37.00 to $34.00 and set a “hold” rating for the company in a report on Wednesday. Finally, BMO Capital Markets started coverage on shares of Global-e Online in a research note on Tuesday, April 21st. They set an “outperform” rating and a $42.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Global-e Online currently has a consensus rating of “Moderate Buy” and an average price target of $43.92.

Global-e Online Stock Performance

NASDAQ:GLBE opened at $30.64 on Monday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 47.14 and a beta of 1.16. The stock’s fifty day moving average price is $30.91 and its two-hundred day moving average price is $34.89. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $41.94.

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

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.