Public Employees Retirement System of Ohio Has $4.03 Million Stake in Global-e Online Ltd. $GLBE

Public Employees Retirement System of Ohio lifted its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 24.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 130,602 shares of the company’s stock after acquiring an additional 25,810 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.08% of Global-e Online worth $4,029,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Global-e Online during the 4th quarter valued at $39,000. IFP Advisors Inc increased its holdings in shares of Global-e Online by 73.3% in the third quarter. IFP Advisors Inc now owns 1,059 shares of the company’s stock valued at $38,000 after purchasing an additional 448 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after purchasing an additional 1,616 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of Global-e Online in the fourth quarter valued at about $72,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Global-e Online

In other news, COO Shahar Tamari sold 24,999 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $36.81, for a total transaction of $920,213.19. Following the transaction, the chief operating officer directly owned 3,931,686 shares of the company’s stock, valued at approximately $144,725,361.66. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amir Schlachet sold 24,999 shares of Global-e Online stock in a transaction that occurred on Thursday, July 2nd. The shares were 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 owned 4,116,728 shares of the company’s stock, valued at approximately $152,689,441.52. The trade was a 0.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 319,914 shares of company stock valued at $10,989,302 in the last quarter. Company insiders own 11.60% of the company’s stock.

Global-e Online Stock Performance

GLBE stock opened at $39.87 on Friday. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94. The company has a market capitalization of $6.77 billion, a PE ratio of 61.34 and a beta of 1.06. The company’s 50-day simple moving average is $34.63 and its 200 day simple moving average is $33.76.

Analysts Set New Price Targets

GLBE has been the subject of several research analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 target price on shares of Global-e Online in a report on Wednesday, May 13th. Morgan Stanley cut their price objective on shares of Global-e Online from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an “accumulate” rating in a report on Wednesday, May 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 target price on shares of Global-e Online in a research report on Wednesday. Finally, Needham & Company LLC reiterated 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 given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

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.