Magnetar Financial LLC Takes Position in Global-e Online Ltd. $GLBE

Key Points

• Magnetar Financial LLC acquired 197,156 shares of Global-e Online Ltd. for approximately $7 million, representing a 0.12% ownership interest in the company.
• The stock price of Global-e Online has recovered, trading up 3.3% recently, with an opening price of $34.18.
• Global-e Online reported a quarterly revenue increase of 27.9% year-over-year and beat analysts’ earnings expectations, with profits of $0.06 per share against a forecast of $0.02.

Magnetar Financial LLC bought a new stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 197,156 shares of the company's stock, valued at approximately $7,029,000. Magnetar Financial LLC owned approximately 0.12% of Global-e Online at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fred Alger Management LLC grew its holdings in shares of Global-e Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after purchasing an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC grew its stake in shares of Global-e Online by 9.1% during the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock worth $144,336,000 after acquiring an additional 220,519 shares during the last quarter. Spyglass Capital Management LLC grew its stake in shares of Global-e Online by 6.8% during the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock worth $81,104,000 after acquiring an additional 94,664 shares during the last quarter. Arohi Asset Management PTE Ltd. raised its stake in shares of Global-e Online by 130.5% during the 1st quarter. Arohi Asset Management PTE Ltd. now owns 1,477,728 shares of the company's stock valued at $52,681,000 after buying an additional 836,522 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Global-e Online by 33,950.1% in the first quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock worth $50,570,000 after acquiring an additional 1,414,360 shares during the period. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-e Online Stock Down 0.9%

GLBE stock traded down $0.31 during midday trading on Tuesday, reaching $33.15. The company had a trading volume of 970,485 shares, compared to its average volume of 1,889,020. The stock has a 50 day moving average price of $33.10 and a 200 day moving average price of $35.12. The firm has a market capitalization of $5.63 billion, a PE ratio of -195.00, a P/E/G ratio of 1.78 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 $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. The firm had revenue of $214.88 million during the quarter, compared to the consensus estimate of $207.95 million. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%.The firm's revenue for the quarter was up 27.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.13) earnings per share. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that Global-e Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

GLBE has been the subject of several recent research reports. Raymond James Financial cut their price target on Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Benchmark reduced their target price on Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. JMP Securities reiterated a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Piper Sandler reiterated an "overweight" rating and set a $42.00 target price on shares of Global-e Online in a research report on Wednesday, May 14th. Finally, Zacks Research upgraded Global-e Online to a "hold" rating in a report on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $48.33.

About Global-e Online

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.