Abdiel Capital Advisors LP Sells 1,604,212 Shares of Global-e Online Ltd. $GLBE

Key Points

• Abdiel Capital Advisors LP has reduced its stake in Global-e Online by 41%, now owning approximately 8.5% of the company as its 6th largest position.
• Global-e Online's shares saw a 27.9% increase in revenue during the last quarter, with earnings of $0.06 per share surpassing analysts' estimates.
• Despite positive performance, analysts have mixed ratings, with an average price target of $48.33 and a few firms downgrading their price objectives for the stock.

Abdiel Capital Advisors LP reduced its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 41.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,311,201 shares of the company's stock after selling 1,604,212 shares during the quarter. Global-e Online makes up 8.5% of Abdiel Capital Advisors LP's investment portfolio, making the stock its 6th largest position. Abdiel Capital Advisors LP owned approximately 1.37% of Global-e Online worth $82,394,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fred Alger Management LLC grew its holdings in shares of Global-e Online by 204.6% during the fourth 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 in the last quarter. Jennison Associates LLC lifted its position in 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 valued at $50,570,000 after buying an additional 1,414,360 shares in the last quarter. Arohi Asset Management PTE Ltd. lifted its position in shares of Global-e Online by 130.5% during the first quarter. Arohi Asset Management PTE Ltd. now owns 1,477,728 shares of the company's stock worth $52,681,000 after purchasing an additional 836,522 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Global-e Online by 149.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,247,984 shares of the company's stock valued at $44,491,000 after acquiring an additional 748,608 shares in the last quarter. Finally, Contour Asset Management LLC raised its holdings in Global-e Online by 17.8% in the first quarter. Contour Asset Management LLC now owns 3,119,286 shares of the company's stock valued at $111,203,000 after acquiring an additional 472,380 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on GLBE. 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 report on Thursday, May 15th. Piper Sandler reiterated an "overweight" rating and set a $42.00 target price on shares of Global-e Online in a research note on Wednesday, May 14th. Benchmark lowered their target price on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial lowered their target price on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Finally, Zacks Research upgraded shares of Global-e Online to a "hold" rating in a research note on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $48.33.

Global-e Online Trading Up 1.0%

GLBE stock traded up $0.34 during trading on Monday, hitting $36.12. The company had a trading volume of 1,262,189 shares, compared to its average volume of 1,885,872. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of -211.50, a P/E/G ratio of 1.91 and a beta of 1.24. The business has a 50 day moving average of $33.26 and a 200 day moving average of $34.53. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, beating 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 company had revenue of $214.88 million during the quarter, compared to the consensus estimate of $207.95 million. During the same period in the prior year, the company earned ($0.13) EPS. Global-e Online's 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. As a group, equities analysts predict that Global-e Online Ltd. will post 0.25 EPS for the current year.

Global-e Online declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 4th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are 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.