Global-e Online Ltd. $GLBE Shares Sold by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC reduced its stake in Global-e Online Ltd. by 7.8%, now holding 378,962 shares valued at approximately $12.7 million.
• The company reported $0.06 earnings per share for its latest quarter, exceeding analysts' expectations of $0.02 and showing a 27.9% increase in revenue year-over-year.
• Global-e Online has initiated a $200 million stock buyback plan as it believes its shares are undervalued, with the plan allowing the repurchase of up to 3.5% of its stock.

ARK Investment Management LLC trimmed its position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 7.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 378,962 shares of the company's stock after selling 32,278 shares during the period. ARK Investment Management LLC owned 0.22% of Global-e Online worth $12,710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLBE. Retirement Systems of Alabama acquired a new position in Global-e Online during the 1st quarter valued at about $1,397,000. Cambridge Investment Research Advisors Inc. boosted its stake in Global-e Online by 28.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,446 shares of the company's stock valued at $479,000 after purchasing an additional 2,955 shares during the period. Asset Management One Co. Ltd. boosted its stake in Global-e Online by 8.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 39,830 shares of the company's stock valued at $1,420,000 after purchasing an additional 3,244 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Global-e Online by 202.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 126,313 shares of the company's stock valued at $4,503,000 after purchasing an additional 84,545 shares during the period. Finally, Clay Northam Wealth Management LLC boosted its stake in Global-e Online by 7.0% during the 1st quarter. Clay Northam Wealth Management LLC now owns 24,645 shares of the company's stock valued at $879,000 after purchasing an additional 1,615 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Stock Performance

Shares of NASDAQ:GLBE opened at $34.31 on Wednesday. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of -201.82, a PEG ratio of 1.78 and a beta of 1.25. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The company has a 50 day moving average price of $34.57 and a 200 day moving average price of $33.94.

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

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

Analyst Ratings Changes

GLBE has been the subject of a number of analyst reports. Truist Financial boosted their target price on shares of Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday, July 17th. Zacks Research raised shares of Global-e Online to a "hold" rating in a research note on Friday, August 8th. The Goldman Sachs Group upped their price target on shares of Global-e Online from $39.00 to $44.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Global-e Online in a research note on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.08.

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.

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