Artisan Partners Sees a Bright Future in Global-e Online Ltd. (GLBE)

Artisan Partners, a high value-added investment management firm, published its ‘Artisan Mid Cap Fund’ fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of -0.72% was recorded by its Investor Class: ARTMX, -0.68% by its Advisor Class: APDMX, and -0.66% by its Institutional Class: APHMX, in the fourth quarter of 2021, all underperforming the Russell Midcap® Growth Index that delivered a 2.85% return, and the Russell Midcap® Index that was up by 6.44% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Artisan Mid Cap Fund, in its Q4 2021 investor letter, mentioned Global-e Online Ltd. (NASDAQ: GLBE) and discussed its stance on the firm. Global-e Online Ltd. is an Israel-based e-commerce solutions provider with a $5.3 billion market capitalization. GLBE delivered an 8.09% and it closed at $36.62 per share on February 22, 2022.

Here is what Artisan Mid Cap Fund has to say about Global-e Online Ltd. in its Q4 2021 investor letter:

“We added to several positions during the quarter including Global-e online. Global-e online is a global e-commerce service platform enabling cross-border transactions across 200+ countries. It provides three critical elements: website localization, payments and logistics. For background, ~30% of a global brand’s online traffic is from international shoppers, though the portion of its international sales is no more than 5%-10% as brands struggle to overcome numerous cross-border challenges—different languages, currencies, payment methods, duties/taxes and shipping providers. There is no one-size-fits-all solution as each market is unique; hence, merchants of all sizes find a do-it-yourself cross-border strategy to be complex, costly and difficult to maintain. In our view, the capability of Global-e online’s platform to remove these frictions was recently validated by its strategic partnership with e-commerce platform giant Shopify, which also made an equity investment in the
company. With strong current performance and the potential for accelerated growth once Global-e completes its technological integration with Shopify’s platform, we added to our GardenSM position.”

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Our calculations show that Global-e Online Ltd. (NASDAQ: GLBE) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. GLBE was in 28 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 22 funds in the previous quarter. Global-e Online Ltd. (NASDAQ: GLBE) delivered a -36.20% return in the past 3 months.

In November 2021, we published an article that includes GLBE in the 10 Latest Stock Picks of Legendary Investor Julian Robertson’s Tiger Management. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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