Global-e Online Ltd. $GLBE Holdings Cut by Meitav Investment House Ltd.

Meitav Investment House Ltd. lowered its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 81.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,200 shares of the company’s stock after selling 41,350 shares during the period. Meitav Investment House Ltd.’s holdings in Global-e Online were worth $263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GLBE. Wasatch Advisors LP raised its holdings in shares of Global-e Online by 34.0% during the first quarter. Wasatch Advisors LP now owns 6,458,588 shares of the company’s stock worth $199,247,000 after acquiring an additional 1,637,482 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock valued at $230,842,000 after purchasing an additional 2,387,242 shares in the last quarter. Contour Asset Management LLC increased its position in Global-e Online by 4.6% in the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after purchasing an additional 211,034 shares during the last quarter. Arohi Asset Management PTE Ltd. raised its stake in shares of Global-e Online by 0.6% during the 4th quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after purchasing an additional 23,213 shares in the last quarter. Finally, Spyglass Capital Management LLC raised its stake in shares of Global-e Online by 63.0% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock worth $96,665,000 after purchasing an additional 1,044,960 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Stock Performance

Shares of NASDAQ GLBE opened at $36.92 on Wednesday. The business’s 50-day simple moving average is $32.09 and its 200-day simple moving average is $33.99. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 56.80 and a beta of 1.06.

Insider Activity at Global-e Online

In other news, CEO Amir Schlachet sold 58,331 shares of Global-e Online stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.21, for a total value of $2,112,165.51. Following the transaction, the chief executive officer owned 4,141,727 shares of the company’s stock, valued at $149,971,934.67. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Shahar Tamari sold 28,623 shares of the business’s stock in a transaction on 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 completion of the sale, the chief operating officer owned 3,956,685 shares of the company’s stock, valued at $142,519,793.70. The trade was a 0.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 387,803 shares of company stock worth $13,299,606. Corporate insiders own 11.60% of the company’s stock.

Key Stories Impacting Global-e Online

Here are the key news stories impacting Global-e Online this week:

• Negative Sentiment: CEO Amir Schlachet sold 24,999 shares for about $927,000, adding to earlier insider selling in late June and signaling that management has been trimming positions. CEO Amir Schlachet insider sale filing
• Negative Sentiment: COO Shahar Tamari also sold 24,999 shares for about $920,000, reinforcing the recent insider-selling trend and potentially weighing on sentiment toward GLBE. COO Shahar Tamari insider sale filing
• Negative Sentiment: President Nir Debbi sold 8,332 shares earlier in the week, adding another data point to the pattern of executive selling that traders may interpret as a negative near-term signal. President Nir Debbi insider sale filing
• Neutral Sentiment: Despite the insider activity, Global-e Online remains above its key moving averages and still carries a generally constructive analyst backdrop, which may help cushion downside concerns.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. 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 note on Tuesday, March 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 target price on shares of Global-e Online in a research note on Wednesday, May 13th. Needham & Company LLC restated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, BMO Capital Markets assumed coverage on shares of Global-e Online in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Global-e Online presently has an average rating of “Moderate Buy” and an average target price of $44.33.

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.