Bronte Capital Management Pty Ltd. Purchases Shares of 213,102 Global-e Online Ltd. $GLBE

Bronte Capital Management Pty Ltd. acquired a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 213,102 shares of the company’s stock, valued at approximately $6,574,000. Global-e Online comprises approximately 0.7% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 24th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Annex Advisory Services LLC increased its position in shares of Global-e Online by 64.4% during the 4th quarter. Annex Advisory Services LLC now owns 640,016 shares of the company’s stock worth $25,159,000 after purchasing an additional 250,625 shares in the last quarter. Legal & General Group Plc boosted its position in Global-e Online by 105.3% in the fourth quarter. Legal & General Group Plc now owns 578,139 shares of the company’s stock valued at $22,727,000 after buying an additional 296,466 shares in the last quarter. Vitruvian Partners LLP boosted its position in Global-e Online by 21.9% in the fourth quarter. Vitruvian Partners LLP now owns 210,209 shares of the company’s stock valued at $8,263,000 after buying an additional 37,767 shares in the last quarter. Spyglass Capital Management LLC grew its stake in Global-e Online by 63.0% during the third quarter. Spyglass Capital Management LLC now owns 2,703,171 shares of the company’s stock worth $96,665,000 after buying an additional 1,044,960 shares during the last quarter. Finally, Fieldview Capital Management LLC increased its holdings in shares of Global-e Online by 31.7% during the third quarter. Fieldview Capital Management LLC now owns 105,648 shares of the company’s stock worth $3,778,000 after buying an additional 25,434 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Stock Performance

Shares of GLBE opened at $36.85 on Friday. The business’s fifty day moving average price is $31.77 and its two-hundred day moving average price is $34.03. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 56.69 and a beta of 1.06. Global-e Online Ltd. has a 52 week low of $26.84 and a 52 week high of $41.94.

Insider Activity at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 28,623 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $36.02, for a total transaction of $1,031,000.46. Following the transaction, the chief operating officer directly owned 3,956,685 shares in the company, valued at approximately $142,519,793.70. This represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Nir Debbi sold 9,233 shares of Global-e Online stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $33.70, for a total transaction of $311,152.10. Following the sale, the president owned 4,559,466 shares of the company’s stock, valued at approximately $153,654,004.20. This represents a 0.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 287,483 shares of company stock worth $9,559,890 over the last 90 days. Insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

GLBE has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Morgan Stanley decreased their price target on 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. 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. BMO Capital Markets started coverage on Global-e Online in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 price objective on the stock. Finally, Zacks Research lowered Global-e Online from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.33.

Global-e Online Company 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.