Renaissance Technologies LLC Acquires Shares of 275,900 Global-e Online Ltd. $GLBE

Renaissance Technologies LLC acquired a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE) in the first quarter, Holdings Channel reports. The fund acquired 275,900 shares of the company’s stock, valued at approximately $8,512,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in shares of Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after purchasing an additional 448 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Global-e Online in the 4th quarter valued at $39,000. Geneos Wealth Management Inc. grew its position in 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 during the last quarter. Tower Research Capital LLC TRC increased its stake in Global-e Online by 780.7% in 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 during the period. Finally, Kestra Advisory Services LLC acquired a new position in Global-e Online in the 4th quarter valued at $72,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLBE has been the subject of several recent analyst reports. Weiss Ratings cut shares of Global-e Online from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Morgan Stanley dropped their price target on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Truist Financial raised their price objective on shares of Global-e Online from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Benchmark reiterated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Finally, Zacks Research downgraded Global-e Online from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Global-e Online presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Insider Buying and Selling

In other Global-e Online news, COO Shahar Tamari sold 24,999 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $36.81, for a total transaction of $920,213.19. Following the transaction, the chief operating officer directly owned 3,931,686 shares in the company, valued at approximately $144,725,361.66. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Nir Debbi sold 8,332 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $35.82, for a total transaction of $298,452.24. Following the completion of the transaction, the president directly owned 4,534,449 shares of the company’s stock, valued at approximately $162,423,963.18. This trade represents a 0.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 306,298 shares of company stock valued at $10,554,239. Corporate insiders own 11.60% of the company’s stock.

Global-e Online Stock Up 2.3%

Shares of GLBE opened at $40.20 on Tuesday. The company has a 50-day simple moving average of $35.02 and a 200-day simple moving average of $33.74. The company has a market capitalization of $6.82 billion, a PE ratio of 61.85 and a beta of 1.03. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $41.94.

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.