Global-e Online Ltd. $GLBE Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. decreased its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 70.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 236,039 shares of the company’s stock after selling 570,781 shares during the period. Amova Asset Management Americas Inc. owned 0.14% of Global-e Online worth $7,272,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Global-e Online during the 4th quarter worth $39,000. IFP Advisors Inc increased its stake in Global-e Online by 73.3% in the third 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. Geneos Wealth Management Inc. lifted 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 during the period. Tower Research Capital LLC TRC lifted its position in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after buying an additional 1,616 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in Global-e Online in the 4th quarter worth about $72,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GLBE shares. BMO Capital Markets assumed coverage on shares of Global-e Online in a report on Tuesday, April 21st. They issued an “outperform” rating and a $42.00 target price for the company. Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Global-e Online to an “accumulate” rating in a report on Wednesday, May 27th. Raymond James Financial reissued an “outperform” rating and set a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 13th. Finally, Bank of America started coverage on Global-e Online in a report on Tuesday, March 31st. They set a “buy” rating and a $43.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.33.

Global-e Online Stock Down 4.0%

Global-e Online stock opened at $36.58 on Tuesday. The firm has a fifty day moving average of $33.28 and a 200-day moving average of $33.87. Global-e Online Ltd. has a 52-week low of $26.84 and a 52-week high of $41.94. The firm has a market capitalization of $6.21 billion, a P/E ratio of 56.28 and a beta of 1.06.

Insiders Place Their Bets

In other news, CEO Amir Schlachet sold 58,331 shares of Global-e Online stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $36.21, for a total transaction of $2,112,165.51. Following the sale, the chief executive officer owned 4,141,727 shares in the company, valued at $149,971,934.67. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Nir Debbi sold 9,233 shares of the business’s stock in a transaction 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 transaction, the president directly owned 4,559,466 shares in the company, valued at approximately $153,654,004.20. The trade was a 0.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 319,914 shares of company stock worth $10,989,302 in the last 90 days. 11.60% of the stock is owned by company insiders.

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.