Amundi Boosts Stake in Global-e Online Ltd. $GLBE

Key Points

• Amundi increased its holdings in Global-e Online Ltd. by 5.7%, owning 833,265 shares valued at approximately $29.71 million as per the latest SEC filing.
• Global-e Online recently announced a $200 million share buyback plan, indicating that the company believes its shares are undervalued.
• Analysts have mixed ratings on Global-e, with an average target price of $48.33, reflecting optimism for future growth despite current price adjustments.

Amundi increased its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 5.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 833,265 shares of the company's stock after buying an additional 44,723 shares during the period. Amundi owned about 0.49% of Global-e Online worth $29,706,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in shares of Global-e Online by 33,950.1% during the 1st quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock valued at $50,570,000 after purchasing an additional 1,414,360 shares during the last quarter. Arohi Asset Management PTE Ltd. boosted its holdings 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 purchasing an additional 836,522 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Global-e Online by 149.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,247,984 shares of the company's stock valued at $44,491,000 after purchasing an additional 748,608 shares during the last quarter. Contour Asset Management LLC boosted its holdings in shares of Global-e Online by 17.8% during the 1st quarter. Contour Asset Management LLC now owns 3,119,286 shares of the company's stock valued at $111,203,000 after purchasing an additional 472,380 shares during the last quarter. Finally, Deepwater Asset Management LLC bought a new position in shares of Global-e Online during the 1st quarter valued at about $12,493,000. Institutional investors own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

GLBE has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Truist Financial upped their target price 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. Zacks Research upgraded shares of Global-e Online to a "hold" rating in a research report on Friday, August 8th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price objective on shares of Global-e Online in a research report on Thursday, May 15th. Finally, Raymond James Financial reduced their price objective on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Global-e Online presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.33.

Global-e Online Stock Performance

GLBE traded down $0.58 during trading on Friday, hitting $36.07. The stock had a trading volume of 154,984 shares, compared to its average volume of 1,878,135. The company has a market capitalization of $6.12 billion, a PE ratio of -212.26, a PEG ratio of 1.95 and a beta of 1.24. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69. The stock has a 50 day simple moving average of $33.55 and a two-hundred day simple moving average of $34.45.

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

Global-e Online declared that its board has initiated a share buyback program on Thursday, September 4th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Global-e Online Company Profile

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.