Goldman Sachs Group Inc. Acquires 308,218 Shares of Global-e Online Ltd. $GLBE

Key Points

• Goldman Sachs Group Inc. increased its stake in Global-e Online Ltd. by 6.9% during the first quarter, purchasing an additional 308,218 shares, bringing its total ownership to approximately 2.81% of the company.
• Global-e Online reported a 27.9% year-over-year revenue growth, reaching $214.88 million for the quarter, and beat analysts' EPS expectations by $0.04 with earnings of $0.06 per share.
• The company has initiated a share buyback plan authorizing up to $200 million to repurchase outstanding shares, indicating confidence in its stock valuation.

Goldman Sachs Group Inc. increased its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,769,843 shares of the company's stock after acquiring an additional 308,218 shares during the period. Goldman Sachs Group Inc. owned approximately 2.81% of Global-e Online worth $170,045,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. 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 worth $111,203,000 after buying an additional 472,380 shares during the last quarter. Spyglass Capital Management LLC increased its holdings in Global-e Online by 6.8% during the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock valued at $81,104,000 after buying an additional 94,664 shares during the last quarter. Arohi Asset Management PTE Ltd. boosted its position in shares of Global-e Online by 130.5% in 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 during the period. Jennison Associates LLC boosted its position in shares of Global-e Online by 33,950.1% in the first quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock worth $50,570,000 after purchasing an additional 1,414,360 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of 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 worth $44,491,000 after purchasing an additional 748,608 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Trading Up 0.4%

Shares of NASDAQ:GLBE traded up $0.16 during midday trading on Tuesday, reaching $35.91. 1,569,934 shares of the company were exchanged, compared to its average volume of 1,423,924. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The business's fifty day moving average is $33.71 and its two-hundred day moving average is $34.23. The stock has a market cap of $6.10 billion, a PE ratio of -211.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

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. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. The business had revenue of $214.88 million during the quarter, compared to analyst estimates of $207.95 million. During the same quarter last year, the business earned ($0.13) earnings per share. Global-e Online's quarterly revenue was up 27.9% compared to the same quarter last year. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current year.

Global-e Online declared that its board has approved a stock buyback plan on Thursday, September 4th that allows the company to buyback $200.00 million in shares. This buyback authorization allows 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 leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial upped their price target 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 upgraded 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 issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, 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.