ING Groep NV Has $37.44 Million Position in Global-e Online Ltd. $GLBE

ING Groep NV grew its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 129.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,047,000 shares of the company’s stock after purchasing an additional 590,000 shares during the period. ING Groep NV’s holdings in Global-e Online were worth $37,441,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GLBE. ProShare Advisors LLC increased its position in shares of Global-e Online by 36.0% in the third quarter. ProShare Advisors LLC now owns 37,001 shares of the company’s stock valued at $1,323,000 after acquiring an additional 9,786 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Global-e Online by 21.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 68,546 shares of the company’s stock worth $2,451,000 after purchasing an additional 12,010 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Global-e Online by 16.1% during the 3rd quarter. Penserra Capital Management LLC now owns 127,667 shares of the company’s stock worth $4,564,000 after purchasing an additional 17,676 shares in the last quarter. Brown Capital Management LLC boosted its holdings in shares of Global-e Online by 10.0% in the 3rd quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company’s stock valued at $85,461,000 after buying an additional 216,304 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Global-e Online by 237.7% in the 3rd 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 during the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Performance

Shares of GLBE opened at $32.91 on Wednesday. The firm has a market cap of $5.59 billion, a P/E ratio of 1,097.37 and a beta of 1.24. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The firm’s 50-day simple moving average is $38.26 and its 200 day simple moving average is $36.24.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Global-e Online had a net margin of 0.82% and a return on equity of 0.81%. The firm had revenue of $220.78 million during the quarter, compared to the consensus estimate of $217.95 million. During the same period last year, the business posted ($0.13) earnings per share. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, equities analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC upped their price target on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Zacks Research raised shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Benchmark reiterated a “buy” rating on shares of Global-e Online in a report on Friday, January 16th. Piper Sandler downgraded Global-e Online from an “overweight” rating to a “mixed” rating in a research report on Monday, February 2nd. Finally, Truist Financial set a $43.00 price objective on Global-e Online in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.09.

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.