Is This the Best Time to Invest in Global-e Online Ltd. (GLBE)?

ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 3000 Index, in the fourth quarter. On an absolute basis, the strategy gained across nine of the 10 sectors in which it was invested. Industrials, consumer staples, and healthcare sectors were the leading contributors while the IT sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Select Strategy highlighted stocks like Global-e Online Ltd. (NASDAQ:GLBE) in the Q4 2022 investor letter. Headquartered in Petah Tikva, Israel, Global-e Online Ltd. (NASDAQ:GLBE) is a platform provider to enable and accelerate direct-to-consumer cross-border e-commerce. On February 22, 2023, Global-e Online Ltd. (NASDAQ:GLBE) stock closed at $29.50 per share. One-month return of Global-e Online Ltd. (NASDAQ:GLBE) was 10.32%, and its shares lost 22.12% of their value over the last 52 weeks. Global-e Online Ltd. (NASDAQ:GLBE) has a market capitalization of $4.616 billion.

ClearBridge Select Strategy made the following comment about Global-e Online Ltd. (NASDAQ:GLBE) in its Q4 2022 investor letter:

“Despite the headwinds facing disruptors, we remain selective and opportunistic in increasing our exposure to these higher-growth companies. We repurchased cross-border e-commerce platform Global-e Online Ltd. (NASDAQ:GLBE) after it fell over 70% from its 2021 highs back to its IPO price in the third quarter and continued to add to it in the latest quarter. Profitable, co-founder-led and growing right through tough e-commerce comps, Global-e has a number of growth initiatives kicking in this year.”

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Global-e Online Ltd. (NASDAQ:GLBE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Global-e Online Ltd. (NASDAQ:GLBE) at the end of the fourth quarter which was 20 in the previous quarter.

We discussed Global-e Online Ltd. (NASDAQ:GLBE) in another article and shared top stock picks of Colin Moran’s Abdiel Capital. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.