Fred Alger Management LLC Has $60.45 Million Holdings in Global-e Online Ltd. $GLBE

Key Points

• Fred Alger Management LLC significantly reduced its stake in Global-e Online Ltd. by selling over 2.5 million shares, a decrease of 60.0%, leaving it with approximately 1.7 million shares valued at about $60.5 million.
• Other institutional investors, including Goldman Sachs and Arohi Asset Management, have increased their positions in Global-e Online, demonstrating strong interest and confidence in the company.
• Global-e Online's stock has recently been trading around $35.78 and reported a 27.9% increase in revenue year-over-year, leading to a positive quarterly earnings report that exceeded analyst expectations.

Fred Alger Management LLC cut its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 60.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,695,655 shares of the company's stock after selling 2,543,815 shares during the quarter. Fred Alger Management LLC owned approximately 1.00% of Global-e Online worth $60,450,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in Global-e Online by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock worth $1,991,000 after acquiring an additional 630 shares during the last quarter. Northern Trust Corp boosted its position in Global-e Online by 51.4% during the fourth quarter. Northern Trust Corp now owns 441,795 shares of the company's stock worth $24,091,000 after acquiring an additional 149,958 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Global-e Online by 115.9% during the fourth quarter. Ameriprise Financial Inc. now owns 110,477 shares of the company's stock worth $6,024,000 after acquiring an additional 59,295 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Global-e Online during the fourth quarter worth approximately $10,520,000. Finally, Bank of America Corp DE boosted its position in Global-e Online by 47.1% during the fourth quarter. Bank of America Corp DE now owns 867,474 shares of the company's stock worth $47,303,000 after acquiring an additional 277,788 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Trading Up 0.1%

NASDAQ:GLBE traded up $0.03 during mid-day trading on Thursday, hitting $36.65. The stock had a trading volume of 1,167,894 shares, compared to its average volume of 1,888,196. The company has a 50 day simple moving average of $33.48 and a 200-day simple moving average of $34.50. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -215.59, a P/E/G ratio of 1.99 and a beta of 1.24. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The firm had revenue of $214.88 million during the quarter, compared to analyst estimates of $207.95 million. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. Global-e Online's revenue was up 27.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) EPS. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Global-e Online declared that its board has initiated a share repurchase plan on Thursday, September 4th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Raymond James Financial decreased 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. JMP Securities restated a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Zacks Research raised shares of Global-e Online to a "hold" rating in a research note on Friday, August 8th. Wells Fargo & Company cut their price target on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of Global-e Online in a research note on Thursday, May 15th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Global-e Online currently has a consensus rating of "Moderate Buy" and an average target price of $48.33.

About Global-e Online

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.