Contour Asset Management LLC Buys 211,034 Shares of Global-e Online Ltd. $GLBE

Contour Asset Management LLC boosted its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,842,069 shares of the company’s stock after acquiring an additional 211,034 shares during the period. Global-e Online accounts for approximately 4.4% of Contour Asset Management LLC’s holdings, making the stock its 11th biggest holding. Contour Asset Management LLC’s holdings in Global-e Online were worth $190,342,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in shares of Global-e Online by 73.3% during the 3rd 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. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online during the 4th quarter valued at $39,000. Geneos Wealth Management Inc. boosted its holdings in shares of Global-e Online by 67.2% during the 1st 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 boosted its holdings in shares of Global-e Online by 780.7% during the 2nd 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. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Global-e Online by 237.7% during 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 in the last quarter. Institutional investors own 94.60% of the company’s stock.

Insider Transactions at Global-e Online

In other news, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $33.65, for a total value of $560,810.90. Following the completion of the transaction, the chief executive officer owned 3,984,550 shares of the company’s stock, valued at $134,080,107.50. The trade was a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Nir Debbi sold 9,233 shares of Global-e Online stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $33.70, for a total value of $311,152.10. Following the completion of the transaction, the president directly owned 4,559,466 shares of the company’s stock, valued at approximately $153,654,004.20. This represents a 0.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 227,388 shares of company stock valued at $7,430,064 in the last quarter. 11.60% of the stock is owned by insiders.

Global-e Online Price Performance

GLBE opened at $31.98 on Thursday. The stock has a 50-day moving average price of $31.24 and a 200-day moving average price of $34.48. The firm has a market cap of $5.43 billion, a PE ratio of 49.20 and a beta of 1.16. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $41.94.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $252.09 million during the quarter, compared to analyst estimates of $250.78 million. Global-e Online had a return on equity of 12.64% and a net margin of 11.37%.Global-e Online’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. As a group, sell-side analysts anticipate that Global-e Online Ltd. will post 1.11 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Truist Financial upgraded shares of Global-e Online from a “hold” rating to a “buy” rating and boosted their target price for the company from $34.00 to $39.00 in a report on Wednesday, June 10th. Morgan Stanley dropped their target price on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Weiss Ratings cut shares of Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. BMO Capital Markets assumed coverage on shares of Global-e Online in a report on Tuesday, April 21st. They set an “outperform” rating and a $42.00 target price on the stock. Finally, KeyCorp dropped their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.