Fieldview Capital Management LLC Lowers Stock Position in Global-e Online Ltd. $GLBE

Key Points

• Fieldview Capital Management cut its Global-e Online stake by 54% in the fourth quarter, selling 57,051 shares and ending with 48,597 shares worth about $1.91 million.
• Global-e Online reported better-than-expected Q1 earnings, posting EPS of $0.27 versus the $0.18 estimate and revenue of $252.09 million, up 32.8% year over year.
• Analyst sentiment remains constructive overall, with Moderate Buy consensus and a target price of $44.33, though some firms recently lowered their ratings.

Fieldview Capital Management LLC reduced its stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 54.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,597 shares of the company's stock after selling 57,051 shares during the quarter. Fieldview Capital Management LLC's holdings in Global-e Online were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in Global-e Online in the fourth quarter valued at approximately $72,000. Bridgewater Associates LP raised its stake in Global-e Online by 294.3% in the fourth quarter. Bridgewater Associates LP now owns 74,638 shares of the company's stock valued at $2,934,000 after purchasing an additional 55,708 shares in the last quarter. Bridgefront Capital LLC raised its stake in Global-e Online by 85.0% in the fourth quarter. Bridgefront Capital LLC now owns 10,643 shares of the company's stock valued at $418,000 after purchasing an additional 4,890 shares in the last quarter. FirstWave Capital Management LLC purchased a new stake in Global-e Online in the fourth quarter valued at approximately $1,661,000. Finally, State Street Corp raised its stake in Global-e Online by 1.1% in the fourth quarter. State Street Corp now owns 1,077,184 shares of the company's stock valued at $42,344,000 after purchasing an additional 11,669 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Price Performance

Shares of NASDAQ GLBE opened at $32.73 on Friday. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $41.94. The firm's 50 day simple moving average is $31.19 and its two-hundred day simple moving average is $34.67. The stock has a market capitalization of $5.56 billion, a P/E ratio of 50.35 and a beta of 1.16.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.09. Global-e Online had a net margin of 11.37% and a return on equity of 12.64%. The business had revenue of $252.09 million for the quarter, compared to analysts' expectations of $250.78 million. During the same period last year, the business earned ($0.11) earnings per share. The business's quarterly revenue was up 32.8% on a year-over-year basis. As a group, equities analysts expect that Global-e Online Ltd. will post 1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total value of $574,143.70. Following the transaction, the chief executive officer directly owned 3,562,787 shares of the company's stock, valued at $122,738,012.15. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Shahar Tamari sold 25,949 shares of Global-e Online stock in a transaction on Friday, April 17th. The stock was sold at an average price of $34.79, for a total transaction of $902,765.71. Following the completion of the transaction, the chief operating officer directly owned 3,790,225 shares in the company, valued at approximately $131,861,927.75. The trade was a 0.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 248,220 shares of company stock valued at $8,183,640 over the last three months. 11.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GLBE shares. Truist Financial raised shares of Global-e Online from a "hold" rating to a "buy" rating and raised their target price for the company from $34.00 to $39.00 in a research note on Wednesday. Raymond James Financial reaffirmed an "outperform" rating and issued a $42.00 target price on shares of Global-e Online in a research note on Wednesday, May 13th. Jefferies Financial Group reiterated a "buy" rating and set a $40.00 price target on shares of Global-e Online in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Global-e Online from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings cut shares of Global-e Online from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.33.

Global-e Online Company Profile

Global-e Online Ltd. NASDAQ: GLBE is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company's cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e's offering is a comprehensive suite of services that includes customizable checkout in the buyer's local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.

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