Summit Creek Advisors LLC Makes New Investment in Global-e Online Ltd. $GLBE

Summit Creek Advisors LLC bought a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE) in the second quarter, HoldingsChannel reports. The firm bought 172,011 shares of the company’s stock, valued at approximately $5,974,000. Global-e Online makes up approximately 2.0% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 21st largest holding.

Several other hedge funds have also modified their holdings of GLBE. Annex Advisory Services LLC grew its holdings in Global-e Online by 37.8% during the second quarter. Annex Advisory Services LLC now owns 88,076 shares of the company’s stock worth $3,059,000 after acquiring an additional 24,179 shares during the period. Wasatch Advisors LP lifted its holdings in Global-e Online by 28.1% in the second quarter. Wasatch Advisors LP now owns 8,275,194 shares of the company’s stock valued at $287,397,000 after acquiring an additional 1,816,606 shares during the period. Handelsbanken Fonder AB lifted its holdings in Global-e Online by 38.0% in the second quarter. Handelsbanken Fonder AB now owns 174,989 shares of the company’s stock valued at $6,077,000 after acquiring an additional 48,145 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Global-e Online by 8.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 8,224 shares of the company’s stock worth $286,000 after purchasing an additional 631 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Global-e Online by 39.1% during the 2nd quarter. Moody National Bank Trust Division now owns 43,765 shares of the company’s stock worth $1,520,000 after purchasing an additional 12,300 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Global-e Online

In other news, CEO Amir Schlachet sold 81,556 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $42.30, for a total value of $3,449,818.80. Following the sale, the chief executive officer directly owned 3,766,730 shares in the company, valued at $159,332,679. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shahar Tamari sold 24,999 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.59, for a total transaction of $1,039,708.41. Following the transaction, the chief operating officer directly owned 3,881,688 shares of the company’s stock, valued at approximately $161,439,403.92. This trade represents a 0.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 639,747 shares of company stock valued at $24,908,433 over the last quarter. Corporate insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GLBE shares. Loop Capital set a $49.00 price target on shares of Global-e Online in a report on Wednesday, August 12th. Citigroup reissued a “market outperform” rating on shares of Global-e Online in a report on Thursday, August 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Global-e Online in a research report on Wednesday, August 5th. UBS Group set a $54.00 target price on shares of Global-e Online and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised Global-e Online to an “accumulate” rating in a research note on Wednesday, May 27th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.23.

Global-e Online Stock Up 0.3%

NASDAQ:GLBE opened at $41.31 on Wednesday. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $43.99. The stock has a fifty day simple moving average of $37.18 and a 200-day simple moving average of $34.04. The company has a market capitalization of $7.01 billion, a PE ratio of 48.04 and a beta of 1.03.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 EPS for the quarter. Global-e Online had a net margin of 13.87% and a return on equity of 16.70%. The firm had revenue of $299.00 million for the quarter. As a group, equities analysts anticipate that Global-e Online Ltd. will post 1.13 earnings per share for the current year.

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.