Deepwater Asset Management LLC Purchases 37,615 Shares of Global-e Online Ltd. $GLBE

Deepwater Asset Management LLC raised its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 10.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 392,063 shares of the company’s stock after purchasing an additional 37,615 shares during the quarter. Global-e Online comprises about 4.5% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Deepwater Asset Management LLC’s holdings in Global-e Online were worth $15,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLBE. IFP Advisors Inc raised its stake in Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after buying an additional 448 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after buying an additional 528 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after buying an additional 1,616 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock valued at $72,000 after buying an additional 1,376 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Global-e Online by 28.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock valued at $106,000 after buying an additional 649 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Insider Activity at Global-e Online

In related news, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $33.34, for a total value of $555,644.44. Following the sale, the chief executive officer directly owned 4,216,724 shares in the company, valued at $140,585,578.16. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shahar Tamari sold 8,333 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $33.59, for a total value of $279,905.47. Following the completion of the sale, the chief operating officer owned 4,033,875 shares in the company, valued at approximately $135,497,861.25. This represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 231,554 shares of company stock worth $7,645,702 in the last three months. 11.60% of the stock is owned by company insiders.

Global-e Online Stock Performance

Shares of Global-e Online stock opened at $32.13 on Monday. The business’s 50 day simple moving average is $30.94 and its 200-day simple moving average is $34.78. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 49.43 and a beta of 1.16. Global-e Online Ltd. has a twelve month low of $26.84 and a twelve month high of $41.94.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GLBE shares. KeyCorp cut their price objective on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. UBS Group cut their price objective on Global-e Online from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings cut Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Benchmark restated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.92.

Global-e Online Company 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.