Eventide Asset Management LLC Sells 20,269 Shares of Global-e Online Ltd. $GLBE

Key Points

• Eventide Asset Management LLC sold 20,269 shares of Global-e Online Ltd. in Q1, reducing its stake by 1.3% to 1,523,749 shares, which constitutes about 1.1% of its total portfolio.
• Global-e Online's stock has a consensus rating of "Moderate Buy" among analysts, with an average price target of $48.33, despite numerous recent target price reductions.
• In its latest quarterly earnings report, Global-e Online beat analysts' expectations with earnings of $0.06 per share and revenues of $214.88 million, reflecting a 27.9% year-over-year increase.

Eventide Asset Management LLC lessened its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,523,749 shares of the company's stock after selling 20,269 shares during the quarter. Global-e Online comprises about 1.1% of Eventide Asset Management LLC's investment portfolio, making the stock its 26th biggest position. Eventide Asset Management LLC owned about 0.90% of Global-e Online worth $54,322,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fred Alger Management LLC increased its position 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 buying an additional 2,847,868 shares during the period. Contour Asset Management LLC increased its position in Global-e Online by 17.8% in the 1st quarter. Contour Asset Management LLC now owns 3,119,286 shares of the company's stock worth $111,203,000 after buying an additional 472,380 shares during the period. Spyglass Capital Management LLC increased its position in Global-e Online by 6.8% in the 4th quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock worth $81,104,000 after buying an additional 94,664 shares during the period. Arohi Asset Management PTE Ltd. increased its position in Global-e Online by 130.5% in the 1st quarter. Arohi Asset Management PTE Ltd. now owns 1,477,728 shares of the company's stock worth $52,681,000 after buying an additional 836,522 shares during the period. Finally, Jennison Associates LLC increased its position in Global-e Online by 33,950.1% in the 1st quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock worth $50,570,000 after buying an additional 1,414,360 shares during the period. Institutional investors own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

GLBE has been the topic of several research reports. Truist Financial boosted their price objective on shares of Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a report on Thursday, July 17th. 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 research report on Thursday, May 15th. Benchmark dropped their target price on Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Zacks Research upgraded Global-e Online to a "hold" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company dropped their target price on Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.33.

Global-e Online Price Performance

Shares of Global-e Online stock traded up $0.35 during trading hours on Tuesday, hitting $36.67. The company's stock had a trading volume of 946,213 shares, compared to its average volume of 1,886,164. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The stock has a 50 day moving average of $33.32 and a 200 day moving average of $34.47. The company has a market capitalization of $6.22 billion, a PE ratio of -215.35, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

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

Global-e Online declared that its board has authorized a stock repurchase program on Thursday, September 4th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.