Temasek Holdings Private Ltd Decreases Position in Global-e Online Ltd. $GLBE

Temasek Holdings Private Ltd cut its position in Global-e Online Ltd. (NASDAQ:GLBE) by 15.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,096,739 shares of the company’s stock after selling 394,584 shares during the period. Temasek Holdings Private Ltd owned approximately 1.24% of Global-e Online worth $82,423,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. USS Investment Management Ltd raised its holdings in shares of Global-e Online by 31.0% during the fourth quarter. USS Investment Management Ltd now owns 60,883 shares of the company’s stock valued at $2,394,000 after purchasing an additional 14,408 shares during the last quarter. Next Century Growth Investors LLC raised its holdings in shares of Global-e Online by 38.6% during the fourth quarter. Next Century Growth Investors LLC now owns 274,708 shares of the company’s stock valued at $10,799,000 after purchasing an additional 76,452 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Global-e Online during the fourth quarter valued at approximately $72,000. Bridgewater Associates LP raised its holdings in shares of Global-e Online by 294.3% during the fourth quarter. Bridgewater Associates LP now owns 74,638 shares of the company’s stock valued at $2,934,000 after purchasing an additional 55,708 shares during the last quarter. Finally, Bridgefront Capital LLC raised its holdings in shares of Global-e Online by 85.0% during the fourth quarter. Bridgefront Capital LLC now owns 10,643 shares of the company’s stock valued at $418,000 after purchasing an additional 4,890 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Global-e Online

In other Global-e Online news, CEO Amir Schlachet sold 16,666 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $33.34, for a total transaction of $555,644.44. Following the completion of the sale, the chief executive officer directly owned 4,216,724 shares of the company’s stock, valued at approximately $140,585,578.16. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shahar Tamari sold 7,874 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $33.09, for a total transaction of $260,550.66. Following the sale, the chief operating officer directly owned 4,017,209 shares of the company’s stock, valued at approximately $132,929,445.81. This represents 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 223,222 shares of company stock valued at $7,321,959. Insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GLBE. Truist Financial raised shares of Global-e Online from a “hold” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $39.00 in a report on Wednesday, June 10th. Bank of America began coverage on shares of Global-e Online in a report on Tuesday, March 31st. They set a “buy” rating and a $43.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating and set a $40.00 price objective on shares of Global-e Online in a report on Wednesday, May 13th. Raymond James Financial reissued an “outperform” rating and set a $42.00 price objective on shares of Global-e Online in a report on Wednesday, May 13th. Finally, Zacks Research cut shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Global-e Online currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

Global-e Online Trading Down 3.4%

Shares of GLBE stock opened at $31.61 on Tuesday. Global-e Online Ltd. has a 12 month low of $26.84 and a 12 month high of $41.94. The stock has a market cap of $5.37 billion, a P/E ratio of 48.63 and a beta of 1.16. The company has a 50 day simple moving average of $31.20 and a two-hundred day simple moving average of $34.59.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business had revenue of $252.09 million during the quarter, compared to analysts’ expectations of $250.78 million. During the same period in the prior year, the company earned ($0.11) earnings per share. The firm’s revenue was up 32.8% on a year-over-year basis. As a group, equities 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.