CenterBook Partners LP Has $7.79 Million Stock Holdings in Global-e Online Ltd. $GLBE

CenterBook Partners LP lowered its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 30.9% in the third quarter, HoldingsChannel reports. The firm owned 217,693 shares of the company’s stock after selling 97,331 shares during the period. CenterBook Partners LP’s holdings in Global-e Online were worth $7,785,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. North Peak Capital Management LLC bought a new stake in Global-e Online during the second quarter worth about $88,481,000. Wasatch Advisors LP raised its stake in shares of Global-e Online by 231.8% in the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after acquiring an additional 2,392,124 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Global-e Online by 182.0% in the 2nd quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock worth $122,626,000 after acquiring an additional 2,359,435 shares in the last quarter. Dragoneer Investment Group LLC grew its position in Global-e Online by 20.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 10,056,015 shares of the company’s stock worth $337,279,000 after acquiring an additional 1,708,655 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. grew its position in Global-e Online by 91.0% during the 2nd quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock worth $94,680,000 after acquiring an additional 1,345,156 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

GLBE has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a report on Friday, January 16th. Piper Sandler downgraded shares of Global-e Online from an “overweight” rating to a “mixed” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 29th. Finally, Morgan Stanley set a $38.00 target price on shares of Global-e Online in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.36.

Global-e Online Stock Down 6.2%

Global-e Online stock opened at $29.70 on Wednesday. The business’s 50-day simple moving average is $37.44 and its 200 day simple moving average is $36.19. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 990.33 and a beta of 1.24. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69.

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

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.