Global-e Online Ltd. $GLBE Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has decreased its ownership in Global-e Online Ltd. by 14.9%, holding 67,957 shares valued at approximately $2.28 million after selling 11,880 shares.
• Global-e Online reported a 27.9% revenue increase year-over-year for the last quarter, with earnings per share of $0.06, exceeding analysts' expectations.
• The company has initiated a $200 million share buyback program, a move often interpreted as a sign that the leadership believes the stock is undervalued.

TD Asset Management Inc cut its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 14.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,957 shares of the company's stock after selling 11,880 shares during the period. TD Asset Management Inc's holdings in Global-e Online were worth $2,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Barton Investment Management raised its stake in Global-e Online by 4.1% in the second quarter. Barton Investment Management now owns 1,079,377 shares of the company's stock valued at $36,202,000 after buying an additional 42,610 shares in the last quarter. Whitebark Investors LP raised its stake in Global-e Online by 216.5% in the second quarter. Whitebark Investors LP now owns 223,100 shares of the company's stock valued at $7,483,000 after buying an additional 152,600 shares in the last quarter. Sterling Investment Advisors Ltd. raised its stake in Global-e Online by 1.1% in the second quarter. Sterling Investment Advisors Ltd. now owns 55,500 shares of the company's stock valued at $1,861,000 after buying an additional 600 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Global-e Online by 39.9% in the second quarter. Public Employees Retirement System of Ohio now owns 71,819 shares of the company's stock valued at $2,409,000 after buying an additional 20,500 shares in the last quarter. Finally, Annex Advisory Services LLC acquired a new stake in Global-e Online in the second quarter valued at $12,190,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Stock Up 3.1%

NASDAQ GLBE opened at $34.31 on Wednesday. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69. The business's 50-day moving average price is $34.57 and its 200 day moving average price is $33.94. The firm has a market cap of $5.82 billion, a P/E ratio of -201.82, a P/E/G ratio of 1.78 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released 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. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%.The firm had revenue of $214.88 million for the quarter, compared to analyst estimates of $207.95 million. During the same quarter last year, the company posted ($0.13) earnings per share. The business'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, 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 buyback program on Thursday, September 4th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GLBE. Truist Financial raised their price target on Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday, July 17th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Global-e Online in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their target price on Global-e Online from $39.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday, October 13th. Finally, Zacks Research upgraded Global-e Online to a "hold" rating in a research report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Global-e Online has a consensus rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding GLBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global-e Online Ltd. (NASDAQ:GLBE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.