Assenagon Asset Management S.A. Decreases Stock Holdings in Global-e Online Ltd. $GLBE

Key Points

• Assenagon Asset Management S.A. reduced its stake in Global-e Online Ltd. by 4.1% during the 2nd quarter, bringing its total ownership to 584,575 shares worth approximately $19.6 million.
• Global-e Online reported a quarterly revenue increase of 27.9% year-over-year, with earnings per share beating expectations at $0.06.
• The company has announced a stock buyback plan, authorizing up to $200 million for the repurchase of shares, indicating management's belief that the stock is undervalued.

Assenagon Asset Management S.A. cut its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 584,575 shares of the company's stock after selling 25,008 shares during the quarter. Assenagon Asset Management S.A. owned 0.34% of Global-e Online worth $19,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Berbice Capital Management LLC purchased a new position in shares of Global-e Online in the first quarter valued at $36,000. Assetmark Inc. purchased a new position in shares of Global-e Online in the first quarter valued at $45,000. Geneos Wealth Management Inc. boosted its stake in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock valued at $47,000 after purchasing an additional 528 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Global-e Online by 52.9% in the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock valued at $50,000 after purchasing an additional 488 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Global-e Online in the first quarter valued at $68,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLBE has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Global-e Online to a "hold" rating in a research note on Friday, August 8th. Truist Financial increased their price objective on shares of Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday, July 17th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.33.

Global-e Online Stock Up 2.2%

Shares of NASDAQ:GLBE opened at $37.65 on Tuesday. The company has a market cap of $6.39 billion, a PE ratio of -221.47, a P/E/G ratio of 1.96 and a beta of 1.24. The company's 50-day moving average price is $33.98 and its 200 day moving average price is $34.11. 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 issued its quarterly earnings data 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 firm had revenue of $214.88 million for 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 quarterly revenue was up 27.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) EPS. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current year.

Global-e Online declared that its board has approved a stock buyback plan on Thursday, September 4th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

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.

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