Citigroup Inc. Purchases 123,558 Shares of Global-e Online Ltd. $GLBE

Citigroup Inc. increased its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 1,688.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,876 shares of the company’s stock after buying an additional 123,558 shares during the period. Citigroup Inc. owned 0.08% of Global-e Online worth $4,680,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on GLBE. Morgan Stanley reaffirmed an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Piper Sandler reaffirmed an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Bank of America reiterated a “buy” rating on shares of Global-e Online in a report on Wednesday, February 18th. Wall Street Zen upgraded Global-e Online from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 19th. One 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.80.

Global-e Online Stock Performance

Shares of NASDAQ GLBE opened at $34.61 on Wednesday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 93.54 and a beta of 1.24. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $43.21. The firm’s 50-day simple moving average is $36.53 and its 200 day simple moving average is $36.34.

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.