Temasek Holdings Private Ltd Reduces Stock Position in Global-e Online Ltd. $GLBE

Temasek Holdings Private Ltd cut its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 13.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,807,183 shares of the company’s stock after selling 289,556 shares during the period. Temasek Holdings Private Ltd owned about 1.06% of Global-e Online worth $55,752,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GLBE. IFP Advisors Inc lifted its holdings in shares of Global-e Online by 73.3% in the 3rd quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after acquiring an additional 448 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in 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 during the last quarter. California State Teachers Retirement System raised its position in Global-e Online by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 116,092 shares of the company’s stock valued at $4,564,000 after purchasing an additional 533 shares during the period. Main Management ETF Advisors LLC raised its position in Global-e Online by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 52,461 shares of the company’s stock valued at $2,062,000 after purchasing an additional 536 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Global-e Online during the fourth quarter valued at approximately $39,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on GLBE shares. UBS Group dropped their target price on Global-e Online from $52.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Bank of America initiated coverage on Global-e Online in a report on Tuesday, March 31st. They set a “buy” rating and a $43.00 price target on the stock. Needham & Company LLC restated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Wall Street Zen lowered shares of Global-e Online from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley cut their price objective on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.33.

Insider Transactions at Global-e Online

In related news, CEO Amir Schlachet sold 24,999 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $37.09, for a total transaction of $927,212.91. Following the completion of the sale, the chief executive officer directly owned 4,116,728 shares of the company’s stock, valued at approximately $152,689,441.52. This trade represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Nir Debbi sold 8,332 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $35.82, for a total value of $298,452.24. Following the transaction, the president owned 4,534,449 shares of the company’s stock, valued at approximately $162,423,963.18. The trade was a 0.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 319,914 shares of company stock worth $10,989,302. 11.60% of the stock is currently owned by company insiders.

Global-e Online Price Performance

Shares of NASDAQ:GLBE opened at $35.76 on Wednesday. Global-e Online Ltd. has a 1 year low of $26.84 and a 1 year high of $41.94. The business has a 50 day simple moving average of $33.39 and a two-hundred day simple moving average of $33.85. The firm has a market capitalization of $6.07 billion, a PE ratio of 55.02 and a beta of 1.06.

About Global-e Online

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.