Penserra Capital Management LLC Boosts Holdings in Global-e Online Ltd. $GLBE

Penserra Capital Management LLC grew its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 16.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,667 shares of the company’s stock after purchasing an additional 17,676 shares during the period. Penserra Capital Management LLC owned approximately 0.08% of Global-e Online worth $4,564,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GLBE. Geneos Wealth Management Inc. grew its position in Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares in the last quarter. Virtus Advisers LLC purchased a new stake in shares of Global-e Online in the 2nd quarter valued at about $47,000. Tower Research Capital LLC TRC boosted its position in shares of Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after acquiring an additional 1,616 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after purchasing an additional 1,376 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its position in shares of Global-e Online by 46.8% in the second quarter. State of Tennessee Department of Treasury now owns 3,975 shares of the company’s stock worth $133,000 after purchasing an additional 1,267 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Down 4.4%

NASDAQ GLBE opened at $32.11 on Friday. The company has a 50-day simple moving average of $38.72 and a two-hundred day simple moving average of $36.25. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 1,070.69 and a beta of 1.24.

Global-e Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $220.78 million for the quarter, compared to the consensus estimate of $217.95 million. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Equities analysts expect that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GLBE shares. Needham & Company LLC boosted their price target on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a report on Friday, January 16th. Truist Financial set a $43.00 target price on Global-e Online in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Global-e Online in a research note on Monday, December 29th. Finally, The Goldman Sachs Group upped their price objective on Global-e Online from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.09.

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.