CenterBook Partners LP Raises Stake in Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• CenterBook Partners LP significantly increased its stake in Global-e Online Ltd. by 527.7%, acquiring an additional 79,690 shares to own a total of approximately 94,791 shares.
• Global-e Online reported a 30.2% year-over-year revenue increase of $189.88 million and topped EPS estimates by two cents in its latest quarterly earnings.
• Despite a negative net margin of 7.70%, the company has received a consensus rating of "Moderate Buy" with a price target of $48.08 from analysts.

CenterBook Partners LP increased its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 527.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 94,791 shares of the company's stock after buying an additional 79,690 shares during the period. CenterBook Partners LP owned 0.06% of Global-e Online worth $3,379,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fred Alger Management LLC raised its stake in Global-e Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after purchasing an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC increased its position in Global-e Online by 9.1% during the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock worth $144,336,000 after purchasing an additional 220,519 shares in the last quarter. Spyglass Capital Management LLC increased its position in Global-e Online by 6.8% during the 4th quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock worth $81,104,000 after purchasing an additional 94,664 shares in the last quarter. Jennison Associates LLC increased its position in 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 worth $50,570,000 after purchasing an additional 1,414,360 shares in the last quarter. Finally, Barton Investment Management increased its position in Global-e Online by 3.4% during the 1st quarter. Barton Investment Management now owns 1,036,767 shares of the company's stock worth $36,961,000 after purchasing an additional 34,080 shares in the last quarter. Institutional investors own 94.60% of the company's stock.

Global-e Online Trading Down 3.0%

Shares of GLBE stock traded down $1.03 during trading hours on Monday, reaching $33.67. The stock had a trading volume of 726,015 shares, compared to its average volume of 1,863,274. The stock's fifty day simple moving average is $33.20 and its 200 day simple moving average is $38.24. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The firm has a market capitalization of $5.71 billion, a PE ratio of -93.78, a PEG ratio of 2.06 and a beta of 1.24.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The company had revenue of $189.88 million during the quarter, compared to analyst estimates of $187.84 million. During the same period last year, the business earned ($0.19) earnings per share. Global-e Online's revenue was up 30.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GLBE shares. Wells Fargo & Company reduced their target price on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 14th. Benchmark dropped their price objective on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Truist Financial increased their target price on shares of Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a report on Thursday, July 17th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $64.00 target price on shares of Global-e Online in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.08.

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.