Contour Asset Management LLC Boosts Holdings in Global-e Online Ltd. $GLBE

Contour Asset Management LLC grew its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,842,069 shares of the company’s stock after acquiring an additional 211,034 shares during the quarter. Global-e Online accounts for approximately 4.4% of Contour Asset Management LLC’s holdings, making the stock its 11th biggest holding. Contour Asset Management LLC owned approximately 2.85% of Global-e Online worth $190,342,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GLBE. IFP Advisors Inc raised its stake in shares of Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock worth $38,000 after acquiring an additional 448 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Global-e Online during the fourth quarter worth approximately $39,000. Geneos Wealth Management Inc. raised its stake in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after acquiring an additional 1,616 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after acquiring an additional 1,376 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on GLBE shares. Bank of America assumed coverage on shares of Global-e Online in a research note on Tuesday, March 31st. They set a “buy” rating and a $43.00 price target on the stock. Zacks Research downgraded shares of Global-e Online from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft raised shares of Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Truist Financial raised shares of Global-e Online from a “hold” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $39.00 in a research note on Wednesday, June 10th. Finally, Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell 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 $44.33.

Insider Activity at Global-e Online

In related news, COO Shahar Tamari sold 7,874 shares of Global-e Online stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $33.09, for a total value of $260,550.66. Following the sale, the chief operating officer owned 4,017,209 shares in the company, valued at $132,929,445.81. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $32.18, for a total transaction of $536,311.88. Following the completion of the sale, the chief executive officer owned 4,200,058 shares in the company, valued at approximately $135,157,866.44. This trade represents a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,388 shares of company stock worth $7,430,064 over the last quarter. Corporate insiders own 11.60% of the company’s stock.

Global-e Online Stock Down 0.9%

Shares of NASDAQ GLBE opened at $31.98 on Thursday. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94. The firm’s fifty day moving average is $31.24 and its 200 day moving average is $34.48. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 49.20 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $252.09 million for the quarter, compared to the consensus estimate of $250.78 million. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) earnings per share. Equities research analysts anticipate that Global-e Online Ltd. will post 1.11 earnings per share for the current year.

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.