Fred Alger Management LLC Lowers Stock Position 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 lowered its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

Several other large investors have also recently modified their holdings of the company. Mackenzie Financial Corp grew its position in Global-e Online by 7.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company's stock worth $368,000 after purchasing an additional 448 shares during the last quarter. Pacer Advisors Inc. grew its position in Global-e Online by 52.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock worth $50,000 after purchasing an additional 488 shares during the last quarter. Yousif Capital Management LLC grew its position in Global-e Online by 10.7% during the 1st quarter. Yousif Capital Management LLC now owns 6,054 shares of the company's stock worth $216,000 after purchasing an additional 584 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Global-e Online by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock worth $1,991,000 after purchasing an additional 630 shares during the last quarter. Finally, Values First Advisors Inc. grew its position in Global-e Online by 5.1% during the 1st quarter. Values First Advisors Inc. now owns 18,614 shares of the company's stock worth $664,000 after purchasing an additional 908 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a research report on Thursday, July 17th. Zacks Research raised shares of Global-e Online to a "hold" rating in a research report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Global-e Online currently has an average rating of "Moderate Buy" and an average target price of $48.33.

Global-e Online Trading Down 2.6%

Shares of GLBE stock traded down $0.97 during trading hours on Friday, hitting $35.68. The company's stock had a trading volume of 989,362 shares, compared to its average volume of 1,546,551. The company has a 50 day moving average of $33.59 and a 200 day moving average of $34.33. The stock has a market cap of $6.06 billion, a PE ratio of -209.88, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $214.88 million for the quarter, compared to the consensus estimate of $207.95 million. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. The business's revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.13) EPS. 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 fiscal year.

Global-e Online announced that its Board of Directors has initiated a share buyback program on Thursday, September 4th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.