Top 3 Stock Picks of Colin Moran’s Abdiel Capital

2. Global-E Online Ltd. (NASDAQ:GLBE)

Abdiel Capital’s Stake Value: $298,857,000

Percentage of Abdiel Capital’s 13F Portfolio: 20.13%

Number of Hedge Fund Holders: 17

Petah-Tikvah, Israel-based Global-E Online Ltd. (NASDAQ:GLBE) is a leading technology platform to enable global, direct-to-consumer cross-border e-commerce growth. Its e-commerce solutions combine localization capabilities, business intelligence models, and streamlined international logistics, enabling online retailers to expand their brand worldwide.

Global-E Online Ltd. (NASDAQ:GLBE) is ranked #2 on the list of Top 8 Stock Picks of Colin Moran’s Abdiel Capital based on its portfolio weight of 20.13%, as of Q2 2022. The hedge fund holds 14,816,911 shares of Global-E Online Ltd. (NASDAQ:GLBE), 49% more than the number of shares held at the end of the previous quarter.

In August, Global-E Online Ltd. (NASDAQ:GLBE) released the financial results for Q2 2022. Its total revenue increased by 52% y-o-y to $87 million, while it generated a net loss of $49 million, for three months ended June 30, 2022. It reported a normalized EPS of $0.07 for the quarter, beating the consensus by $0.06.

Following the earnings release, Morgan Stanley analyst James Faucette raised the price target on Global-E Online Ltd. (NASDAQ:GLBE) shares from $51 from $34 and maintained an ‘Overweight’ rating for the shares.

As of Q2 2022, 17 of the 895 hedge funds tracked by Insider Monkey held Global-E Online Ltd. (NASDAQ:GLBE) shares valued at a combined total of $509 million. Andreas Halvorsen’s Viking Global was its largest hedge fund shareholder after Abdiel Capital, with ownership of 3 million shares valued at $61 million.