Headlands Technologies LLC Buys New Shares in Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• Headlands Technologies LLC has invested approximately $2.02 million in Global-e Online Ltd. by acquiring 56,584 shares during the first quarter.
• Global-e Online's stock has seen significant institutional interest, with 94.60% ownership by institutional investors after other firms made substantial adjustments to their holdings.
• Global-e Online reported a quarterly revenue increase of 30.2% year-over-year, with earnings per share of ($0.11), which surpassed analyst expectations.

Headlands Technologies LLC acquired a new stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 56,584 shares of the company's stock, valued at approximately $2,017,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLBE. Fred Alger Management LLC boosted 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 purchasing an additional 2,847,868 shares during the period. Contour Asset Management LLC lifted its holdings in Global-e Online by 9.1% in the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock worth $144,336,000 after buying an additional 220,519 shares during the period. Spyglass Capital Management LLC lifted its holdings in Global-e Online by 6.8% in the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock worth $81,104,000 after buying an additional 94,664 shares during the period. Jennison Associates LLC lifted its holdings in 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 buying an additional 1,414,360 shares during the period. Finally, Barton Investment Management lifted its holdings in Global-e Online by 3.4% in the first quarter. Barton Investment Management now owns 1,036,767 shares of the company's stock worth $36,961,000 after buying an additional 34,080 shares during the period. 94.60% of the stock is owned by institutional investors.

Global-e Online Trading Down 5.4%

NASDAQ:GLBE traded down $1.88 during trading hours on Monday, reaching $32.82. The company had a trading volume of 1,959,777 shares, compared to its average volume of 1,870,130. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of -91.16, a PEG ratio of 2.06 and a beta of 1.24. The firm's 50 day moving average price is $33.20 and its 200-day moving average price is $38.24.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The business had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. During the same quarter in the previous year, the firm posted ($0.19) EPS. The firm's revenue was up 30.2% on a year-over-year basis. On average, analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on GLBE. Wells Fargo & Company lowered their price objective on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Benchmark lowered 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. Truist Financial raised their price objective on shares of Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a report on Thursday, July 17th. Raymond James Financial lowered 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, KeyCorp decreased their target price on shares of Global-e Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.08.

Global-e Online 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.