Dragoneer Investment Group LLC Has $446.76 Million Stock Position in Global-e Online Ltd. $GLBE

Dragoneer Investment Group LLC decreased its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,365,028 shares of the company’s stock after selling 522,050 shares during the quarter. Global-e Online makes up about 9.7% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 3rd largest position. Dragoneer Investment Group LLC owned approximately 0.07% of Global-e Online worth $446,759,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GLBE. IFP Advisors Inc raised its position in 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 purchasing an additional 448 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Global-e Online in the 4th quarter valued at $39,000. Geneos Wealth Management Inc. raised its position in Global-e Online by 67.2% in the 1st 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 Global-e Online by 780.7% in the 2nd 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 last quarter. Finally, Jones Financial Companies Lllp raised its position in Global-e Online by 237.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock valued at $72,000 after purchasing an additional 1,376 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

GLBE has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating on shares of Global-e Online in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft upgraded Global-e Online to an “accumulate” rating in a research report on Wednesday, May 27th. Morgan Stanley cut their price objective on 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. Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Global-e Online in a research report on Wednesday, May 13th. Finally, Truist Financial upgraded Global-e Online from a “hold” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $39.00 in a research report on Wednesday, June 10th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.33.

Insider Activity

In other news, COO Shahar Tamari sold 7,874 shares of Global-e Online stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $33.09, for a total value of $260,550.66. Following the completion of the sale, the chief operating officer directly owned 4,017,209 shares of the company’s stock, valued at approximately $132,929,445.81. This trade represents a 0.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Nir Debbi sold 9,233 shares of Global-e Online stock in a transaction on Monday, June 1st. The shares were sold at an average price of $33.70, for a total value of $311,152.10. Following the completion of the sale, the president directly owned 4,559,466 shares of the company’s stock, valued at $153,654,004.20. This trade represents a 0.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 206,556 shares of company stock valued at $6,758,482. Company insiders own 11.60% of the company’s stock.

Global-e Online Stock Performance

NASDAQ GLBE opened at $32.28 on Wednesday. The stock has a fifty day moving average of $31.22 and a 200-day moving average of $34.54. The stock has a market capitalization of $5.48 billion, a P/E ratio of 49.66 and a beta of 1.16. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94.

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

Global-e Online 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.