Wellington Management Group LLP Increases Stock Holdings in Global-e Online Ltd. $GLBE

Wellington Management Group LLP boosted its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 3,232.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,101,009 shares of the company’s stock after buying an additional 2,037,962 shares during the quarter. Wellington Management Group LLP’s holdings in Global-e Online were worth $72,968,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its stake in Global-e Online by 28.1% in the 2nd quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock worth $287,397,000 after buying an additional 1,816,606 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Global-e Online by 68.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after acquiring an additional 2,387,242 shares during the period. Contour Asset Management LLC lifted its holdings in shares of Global-e Online by 4.6% during the 4th quarter. Contour Asset Management LLC now owns 4,842,069 shares of the company’s stock worth $190,342,000 after acquiring an additional 211,034 shares during the period. Arohi Asset Management PTE Ltd. boosted its position in shares of Global-e Online by 0.6% in the fourth quarter. Arohi Asset Management PTE Ltd. now owns 3,780,304 shares of the company’s stock worth $148,604,000 after acquiring an additional 23,213 shares during the last quarter. Finally, Brown Capital Management LLC boosted its position in shares of Global-e Online by 0.6% in the fourth quarter. Brown Capital Management LLC now owns 2,404,856 shares of the company’s stock worth $94,535,000 after acquiring an additional 15,014 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Stock Performance

GLBE opened at $38.80 on Thursday. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $43.99. The firm has a 50 day moving average price of $38.69 and a 200 day moving average price of $34.46. The company has a market cap of $6.59 billion, a PE ratio of 45.12 and a beta of 1.00.

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

Insiders Place Their Bets

In related news, CEO Amir Schlachet sold 100,000 shares of Global-e Online stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.20, for a total transaction of $4,220,000.00. Following the transaction, the chief executive officer owned 3,965,422 shares in the company, valued at approximately $167,340,808.40. The trade was a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Shahar Tamari sold 28,623 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the sale, the chief operating officer directly owned 3,956,685 shares of the company’s stock, valued at approximately $142,519,793.70. This trade represents a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 599,816 shares of company stock worth $23,810,868. Insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLBE. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 price target on shares of Global-e Online in a research report on Tuesday. UBS Group set a $54.00 price target on shares of Global-e Online and gave the company a “buy” rating in a report on Thursday, August 13th. BMO Capital Markets upped their price objective on Global-e Online from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Zacks Research upgraded Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Finally, Truist Financial increased their target price on Global-e Online from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.69.

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.