Global-e Online Ltd. $GLBE Stock: ProShare Advisors LLC Cuts Holdings

ProShare Advisors LLC trimmed its position in Global-e Online Ltd. (NASDAQ:GLBE) by 30.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,713 shares of the company’s stock after selling 12,782 shares during the period. ProShare Advisors LLC’s holdings in Global-e Online were worth $1,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its holdings in Global-e Online by 28.1% in the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock valued at $287,397,000 after acquiring an additional 1,816,606 shares during the last quarter. Janus Henderson Group PLC boosted its position in Global-e Online by 4.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,360,866 shares of the company’s stock worth $72,833,000 after purchasing an additional 91,384 shares during the period. Wellington Management Group LLP boosted its position in 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 during the period. Spyglass Capital Management LLC increased its holdings in Global-e Online by 1.1% in the 2nd quarter. Spyglass Capital Management LLC now owns 1,958,379 shares of the company’s stock valued at $68,015,000 after purchasing an additional 20,610 shares in the last quarter. Finally, Keenan Capital LLC raised its position in Global-e Online by 4.8% in the second quarter. Keenan Capital LLC now owns 1,955,262 shares of the company’s stock valued at $67,906,000 after purchasing an additional 90,000 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLBE has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Global-e Online in a research report on Wednesday, August 12th. Zacks Research downgraded Global-e Online from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. BMO Capital Markets boosted their price target on Global-e Online from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Benchmark restated a “buy” rating on shares of Global-e Online in a report on Thursday, August 13th. Finally, Loop Capital set a $49.00 price objective on shares of Global-e Online in a research report on Wednesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Global-e Online has a consensus rating of “Moderate Buy” and an average target price of $48.08.

More Global-e Online News

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

• Positive Sentiment: Analyst coverage cited in a recent report remains broadly favorable: 13 analysts rated GLBE Buy and three Hold, with an average price target of $48.08. Insider trading report
• Negative Sentiment: President Nir Debbi sold a combined 132,651 shares in transactions from November 2–5, while COO Shahar Tamari sold 28,228 shares on November 4–5. The sales may weigh on sentiment, although both executives retain multi-million-share holdings and the reported reductions were small relative to their positions. SEC filing for President’s trades SEC filing for COO’s trades

Global-e Online Trading Down 0.8%

NASDAQ:GLBE traded down $0.36 on Friday, reaching $42.97. The stock had a trading volume of 895,483 shares, compared to its average volume of 1,321,050. The company has a 50-day moving average of $39.81 and a 200 day moving average of $35.84. The stock has a market cap of $7.29 billion, a P/E ratio of 49.97 and a beta of 1.10. Global-e Online Ltd. has a 12-month low of $26.84 and a 12-month high of $45.28.

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

Insider Buying and Selling at Global-e Online

In other Global-e Online news, CEO Amir Schlachet sold 24,999 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $41.39, for a total value of $1,034,708.61. Following the transaction, the chief executive officer directly owned 3,616,736 shares of the company’s stock, valued at $149,696,703.04. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Nir Debbi sold 18,069 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $44.51, for a total value of $804,251.19. Following the transaction, the president owned 4,224,724 shares of the company’s stock, valued at approximately $188,042,465.24. This trade represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 742,889 shares of company stock worth $30,637,208 in the last 90 days. 11.60% of the stock is owned by corporate insiders.

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.

The company’s platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.

Founded in 2013, Global-e serves merchants and shoppers across international markets.