Healthcare of Ontario Pension Plan Trust Fund Invests $2.73 Million in Global-e Online Ltd. $GLBE

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 88,328 shares of the company’s stock, valued at approximately $2,725,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Global-e Online by 87.4% during the first quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock worth $2,684,000 after purchasing an additional 35,120 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Global-e Online by 17.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after buying an additional 8,239 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Global-e Online by 67.2% in 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. Arrowstreet Capital Limited Partnership acquired a new position in shares of Global-e Online in the 2nd quarter valued at $5,428,000. Finally, Brown Advisory Inc. purchased a new position in shares of Global-e Online in the 2nd quarter valued at $726,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Global-e Online

In related news, CEO Amir Schlachet sold 58,331 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $36.21, for a total transaction 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 filing with the SEC, which is available through this link. Also, COO Shahar Tamari sold 28,623 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $36.02, for a total value of $1,031,000.46. Following the completion of the transaction, the chief operating officer owned 3,956,685 shares in the company, valued at $142,519,793.70. This trade represents a 0.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 319,914 shares of company stock worth $10,989,302. 11.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Benchmark reiterated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Needham & Company LLC restated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Morgan Stanley dropped their price objective on Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Zacks Research cut Global-e Online from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $40.00 target price on shares of Global-e Online in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Global-e Online Price Performance

Shares of NASDAQ:GLBE opened at $39.31 on Friday. Global-e Online Ltd. has a 1-year low of $26.84 and a 1-year high of $41.94. The stock has a market cap of $6.67 billion, a P/E ratio of 60.48 and a beta of 1.06. The firm has a fifty day moving average price of $34.82 and a 200 day moving average price of $33.80.

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.