American Century Companies Inc. Decreases Stock Position in Global-e Online Ltd. $GLBE

Key Points

• American Century Companies Inc. reduced its stake in Global-e Online Ltd. by 31.2% during the first quarter, leaving it with approximately 0.49% ownership valued at $29.66 million.
• Global-e Online's stock has received mixed ratings from analysts, with a consensus of Moderate Buy and an average price target of $48.33.
• For the most recent quarter, Global-e Online reported earnings of $0.06 per share, surpassing expectations, while revenue increased by 27.9% year-over-year.

American Century Companies Inc. trimmed its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 31.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 831,990 shares of the company's stock after selling 377,843 shares during the period. American Century Companies Inc. owned approximately 0.49% of Global-e Online worth $29,660,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Deepwater Asset Management LLC purchased a new position in shares of Global-e Online during the first quarter valued at approximately $12,493,000. Fox Run Management L.L.C. increased its position in shares of Global-e Online by 154.5% during the first quarter. Fox Run Management L.L.C. now owns 17,282 shares of the company's stock valued at $616,000 after acquiring an additional 10,492 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Global-e Online by 35.0% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,546 shares of the company's stock valued at $1,481,000 after acquiring an additional 10,778 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Global-e Online during the first quarter valued at approximately $68,000. Finally, Russell Investments Group Ltd. increased its position in shares of Global-e Online by 57.7% during the first quarter. Russell Investments Group Ltd. now owns 77,098 shares of the company's stock valued at $2,749,000 after acquiring an additional 28,196 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on GLBE. Truist Financial raised their price target on shares of Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research report on Thursday, July 17th. Raymond James Financial reduced their price target on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Benchmark cut their target price on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Finally, Zacks Research raised shares of Global-e Online to a "hold" rating in a research report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Global-e Online presently has an average rating of "Moderate Buy" and a consensus price target of $48.33.

Global-e Online Stock Performance

Shares of GLBE stock traded up $1.12 during mid-day trading on Wednesday, reaching $33.08. 1,443,926 shares of the company's stock traded hands, compared to its average volume of 1,977,879. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The firm has a 50 day moving average price of $32.96 and a two-hundred day moving average price of $36.09. The firm has a market capitalization of $5.61 billion, a PE ratio of -194.59, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24.

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, beating analysts' consensus estimates of $0.02 by $0.04. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. The company had revenue of $214.88 million for the quarter, compared to analysts' expectations of $207.95 million. During the same quarter in the previous year, the company earned ($0.13) EPS. Global-e Online's revenue for the quarter was up 27.9% on a year-over-year basis. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts expect that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

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.