Global-e Online Ltd. $GLBE Shares Sold by Abdiel Capital Advisors LP

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 position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 41.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & 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 accounts for approximately 8.5% of Abdiel Capital Advisors LP's investment portfolio, making the stock its 6th biggest holding. Abdiel Capital Advisors LP owned approximately 1.37% of Global-e Online worth $82,394,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GLBE. Berbice Capital Management LLC purchased a new stake in shares of Global-e Online during the 1st quarter worth about $36,000. Assetmark Inc. purchased a new position in Global-e Online in the 1st quarter valued at about $45,000. Pacer Advisors Inc. lifted its stake in Global-e Online by 52.9% in the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock valued at $50,000 after buying an additional 488 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Global-e Online in the 1st quarter valued at about $68,000. Finally, ASR Vermogensbeheer N.V. purchased a new position in Global-e Online in the 1st quarter valued at about $122,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Stock Performance

Shares of NASDAQ GLBE traded up $0.72 during midday trading on Friday, reaching $35.78. 2,077,806 shares of the stock were exchanged, compared to its average volume of 1,915,298. The company has a 50 day simple moving average of $33.26 and a 200 day simple moving average of $34.61. The stock has a market capitalization of $6.07 billion, a P/E ratio of -210.47, a PEG ratio of 1.91 and a beta of 1.24. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. The business had revenue of $214.88 million during 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 was up 27.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) EPS. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts expect that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Global-e Online announced that its board has authorized a stock buyback plan on Thursday, September 4th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GLBE. JMP Securities reiterated a "market outperform" rating and issued a $64.00 price objective on shares of Global-e Online in a report on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective on shares of Global-e Online in a report on Thursday, May 15th. Piper Sandler reiterated an "overweight" rating and issued a $42.00 price objective on shares of Global-e Online in a report on Wednesday, May 14th. Raymond James Financial cut their price objective on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Finally, Benchmark cut their price objective on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Global-e Online has an average rating of "Moderate Buy" and an average price target of $48.33.

Global-e Online Company 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.