Spyglass Capital Management LLC Buys 1,044,960 Shares of Global-e Online Ltd. $GLBE

Spyglass Capital Management LLC boosted its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 63.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,703,171 shares of the company’s stock after acquiring an additional 1,044,960 shares during the period. Global-e Online comprises approximately 5.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 6th largest position. Spyglass Capital Management LLC’s holdings in Global-e Online were worth $96,665,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Dragoneer Investment Group LLC grew its holdings in shares of Global-e Online by 20.5% during the second quarter. Dragoneer Investment Group LLC now owns 10,056,015 shares of the company’s stock worth $337,279,000 after purchasing an additional 1,708,655 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Global-e Online by 182.0% in the 2nd quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock valued at $122,626,000 after purchasing an additional 2,359,435 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Global-e Online by 27.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,617,284 shares of the company’s stock valued at $121,324,000 after purchasing an additional 770,028 shares during the period. Wasatch Advisors LP boosted its position in shares of Global-e Online by 231.8% in the 2nd quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock valued at $114,847,000 after purchasing an additional 2,392,124 shares during the period. Finally, Arohi Asset Management PTE Ltd. grew its stake in Global-e Online by 91.0% during the 2nd quarter. Arohi Asset Management PTE Ltd. now owns 2,822,884 shares of the company’s stock worth $94,680,000 after buying an additional 1,345,156 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Trading Up 0.7%

Global-e Online stock opened at $34.78 on Friday. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21. The stock has a 50 day moving average of $35.85 and a two-hundred day moving average of $36.44. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 94.00 and a beta of 1.24.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America reaffirmed a “buy” rating on shares of Global-e Online in a research report on Wednesday, February 18th. Wall Street Zen upgraded shares of Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. KeyCorp cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. 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. Finally, Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.80.

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.