350,438 Shares in Global-e Online Ltd. $GLBE Purchased by Deepwater Asset Management LLC

Key Points

• Deepwater Asset Management LLC has acquired 350,438 shares of Global-e Online Ltd. (NASDAQ:GLBE), valued at approximately $12.49 million, representing about 5.3% of their portfolio.
• Global-e Online recently reported a quarterly revenue of $214.88 million, exceeding consensus estimates, and posted a $0.06 EPS, outperforming the forecast by $0.04.
• Institutional investors own 94.60% of Global-e Online’s stock, indicating strong institutional support for the company.

Deepwater Asset Management LLC purchased a new stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 350,438 shares of the company's stock, valued at approximately $12,493,000. Global-e Online makes up approximately 5.3% of Deepwater Asset Management LLC's portfolio, making the stock its 11th largest position. Deepwater Asset Management LLC owned 0.21% of Global-e Online as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its position in Global-e Online by 204.6% during the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after purchasing an additional 2,847,868 shares during the period. Jennison Associates LLC boosted its holdings in shares of Global-e Online by 33,950.1% during the first quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock worth $50,570,000 after acquiring an additional 1,414,360 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Global-e Online during the fourth quarter worth approximately $40,146,000. T. Rowe Price Investment Management Inc. bought a new position in Global-e Online in the fourth quarter valued at approximately $27,231,000. Finally, Marshall Wace LLP lifted its holdings in shares of Global-e Online by 951.2% in the fourth quarter. Marshall Wace LLP now owns 437,421 shares of the company's stock worth $23,853,000 after acquiring an additional 395,809 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

Analyst Ratings Changes

GLBE has been the subject of several research analyst reports. KeyCorp decreased their price target on shares of Global-e Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 target price on shares of Global-e Online in a report on Thursday, May 15th. Raymond James Financial reduced their target price on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Zacks Research upgraded Global-e Online to a "hold" rating in a report on Friday, August 8th. Finally, Benchmark reduced their price objective on Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Global-e Online has a consensus rating of "Moderate Buy" and an average price target of $48.33.

Global-e Online Stock Down 2.9%

NASDAQ:GLBE traded down $0.96 on Tuesday, hitting $31.59. The stock had a trading volume of 1,544,462 shares, compared to its average volume of 1,918,668. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The company has a fifty day moving average price of $32.99 and a two-hundred day moving average price of $37.09. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of -185.82, a PEG ratio of 1.72 and a beta of 1.24.

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

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.