Fintel reports that Shopify has filed a 13G/A form with the SEC disclosing ownership of 20.62MM shares of Global-E Online Ltd. (GLBE). This represents 12.8% of the company.
In their previous filing dated June 29, 2022 they reported 17.41MM shares and 10.20% of the company, an increase in shares of 18.43% and an increase in total ownership of 2.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 25.43% Upside
As of February 10, 2023, the average one-year price target for Global-E Online is $35.36. The forecasts range from a low of $26.26 to a high of $48.30. The average price target represents an increase of 25.43% from its latest reported closing price of $28.19.
The projected annual revenue for Global-E Online is $583MM, an increase of 65.56%. The projected annual EPS is -$1.13.
What is the Fund Sentiment?
There are 225 funds or institutions reporting positions in Global-E Online. This is an increase of 24 owner(s) or 11.94% in the last quarter. Average portfolio weight of all funds dedicated to GLBE is 0.89%, an increase of 11.16%. Total shares owned by institutions increased in the last three months by 16.13% to 115,445K shares. The put/call ratio of GLBE is 1.22, indicating a bearish outlook.
What are large shareholders doing?
Abdiel Capital Advisors holds 15,119K shares representing 9.66% ownership of the company. In it's prior filing, the firm reported owning 14,817K shares, representing an increase of 2.00%. The firm increased its portfolio allocation in GLBE by 10.24% over the last quarter.
Vitruvian Partners LLP holds 11,350K shares representing 7.25% ownership of the company. No change in the last quarter.
Dragoneer Investment Group holds 8,962K shares representing 5.73% ownership of the company. In it's prior filing, the firm reported owning 6,178K shares, representing an increase of 31.06%. The firm increased its portfolio allocation in GLBE by 97.79% over the last quarter.
Goldman Sachs Group holds 7,618K shares representing 4.87% ownership of the company. In it's prior filing, the firm reported owning 6,970K shares, representing an increase of 8.51%. The firm increased its portfolio allocation in GLBE by 48.37% over the last quarter.
Artisan Partners Limited Partnership holds 3,942K shares representing 2.52% ownership of the company. In it's prior filing, the firm reported owning 4,838K shares, representing a decrease of 22.73%. The firm decreased its portfolio allocation in GLBE by 36.80% over the last quarter.
Global E Online Background Information
(This description is provided by the company.)
Global-e is the world's leading platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. The chosen partner of more than 440 global brands and retailers across the United States, Europe and Asia, Global-e makes selling internationally as simple as selling domestically. Founded in 2013 by Amir Schlachet, Shahar Tamari and Nir Debbi, the company enables e-commerce retailers to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e's end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast cross-border experience, enabling international shoppers to buy seamlessly online and retailers to sell from, and to, anywhere in the world.
This story originally appeared on Fintel.
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