Nordea Investment Management AB Sells 33,543 Shares of Global-e Online Ltd. $GLBE

Nordea Investment Management AB lowered its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 15.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 185,214 shares of the company’s stock after selling 33,543 shares during the quarter. Nordea Investment Management AB’s holdings in Global-e Online were worth $7,286,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. North Peak Capital Management LLC acquired a new position in Global-e Online in the 2nd quarter valued at $88,481,000. Wasatch Advisors LP grew its holdings in shares of Global-e Online by 231.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after purchasing an additional 2,392,124 shares in the last quarter. Marshall Wace LLP increased its position in shares of Global-e Online by 182.0% in the second quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock worth $122,626,000 after purchasing an additional 2,359,435 shares during the period. Dragoneer Investment Group LLC increased its position in shares of Global-e Online by 18.2% in the third quarter. Dragoneer Investment Group LLC now owns 11,887,078 shares of the company’s stock worth $425,082,000 after purchasing an additional 1,831,063 shares during the period. Finally, Arohi Asset Management PTE Ltd. raised its stake in Global-e Online by 91.0% in the second quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock valued at $94,680,000 after purchasing an additional 1,345,156 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

GLBE has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Bank of America reissued a “buy” rating on shares of Global-e Online in a report on Wednesday, February 18th. Zacks Research upgraded shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. Needham & Company LLC upped their price target on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, Truist Financial reduced their price target on shares of Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.80.

Global-e Online Stock Performance

Global-e Online stock opened at $32.14 on Thursday. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $43.21. The stock has a market capitalization of $5.46 billion, a P/E ratio of 86.86 and a beta of 1.24. The stock has a fifty day moving average of $34.76 and a 200-day moving average of $36.43.

Insider Buying and Selling at Global-e Online

In other news, COO Shahar Tamari sold 16,666 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total value of $563,477.46. Following the completion of the transaction, the chief operating officer owned 3,419,745 shares of the company’s stock, valued at approximately $115,621,578.45. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total transaction of $574,143.70. Following the completion of the sale, the chief executive officer owned 3,562,787 shares in the company, valued at approximately $122,738,012.15. The trade was a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,664 shares of company stock worth $1,425,158 over the last 90 days. Insiders own 11.60% of the company’s stock.

Global-e Online Company 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.