Cresset Asset Management LLC Cuts Position in Global-e Online Ltd. $GLBE

Key Points

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Cresset Asset Management LLC cut its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,716 shares of the company's stock after selling 50,748 shares during the period. Cresset Asset Management LLC owned approximately 0.05% of Global-e Online worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Berbice Capital Management LLC bought a new position in shares of Global-e Online in the 1st quarter worth about $36,000. Assetmark Inc. bought a new position in shares of Global-e Online in the 1st quarter worth about $45,000. Pacer Advisors Inc. raised its position in shares of Global-e Online by 52.9% in the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock worth $50,000 after acquiring an additional 488 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Global-e Online in the 1st quarter valued at about $68,000. Finally, ASR Vermogensbeheer N.V. bought a new stake in Global-e Online in the 1st quarter valued at about $122,000. 94.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GLBE shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 target price on shares of Global-e Online in a research report on Wednesday, May 14th. Truist Financial boosted their target price on Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research report on Thursday, July 17th. JMP Securities reaffirmed a "market outperform" rating and issued a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Finally, Raymond James Financial decreased their target price on 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. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.33.

Global-e Online Stock Up 5.1%

GLBE stock traded up $1.62 during mid-day trading on Friday, reaching $33.28. 1,236,570 shares of the company traded hands, compared to its average volume of 1,968,523. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of -195.76, a P/E/G ratio of 1.86 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. The firm's 50 day moving average price is $32.89 and its 200 day moving average price is $36.33.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The business 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 company's quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) EPS. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Global-e Online 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.