Global-e Online Ltd. $GLBE Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC has reduced its stake in Global-e Online Ltd. by 20.8%, selling 315,734 shares and now holding approximately 1.2 million shares, valued at $42.9 million.
• Several institutional investors have increased their holdings in Global-e Online, with Fred Alger Management LLC raising its stake by 204.6% and Jennison Associates LLC boosting theirs by an impressive 33,950.1% during the first quarter.
• Analyst ratings for Global-e Online are largely positive, with an average rating of "Moderate Buy" and a consensus target price of $48.33, reflecting optimistic outlooks despite varying individual price targets.

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 20.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,203,812 shares of the company's stock after selling 315,734 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.71% of Global-e Online worth $42,916,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new stake in shares of Global-e Online during the first quarter worth $36,000. Assetmark Inc. purchased a new position in shares of Global-e Online in the first quarter worth about $45,000. Pacer Advisors Inc. boosted its position in Global-e Online by 52.9% during the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock worth $50,000 after acquiring an additional 488 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Global-e Online during the 1st quarter valued at about $68,000. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Global-e Online during the 1st quarter worth approximately $122,000. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-e Online Stock Up 3.3%

Global-e Online stock traded up $1.10 during trading on Thursday, hitting $34.18. The company had a trading volume of 1,536,557 shares, compared to its average volume of 2,002,110. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The company's 50 day simple moving average is $32.96 and its 200-day simple moving average is $36.09.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $214.88 million during the quarter, compared to analyst estimates of $207.95 million. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%.The company's quarterly revenue was up 27.9% on a year-over-year basis. During the same period last year, the business posted ($0.13) earnings per share. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts expect that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on GLBE shares. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 price target on shares of Global-e Online in a report on Wednesday, May 14th. Truist Financial raised their target price on Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a research note on Thursday, July 17th. JMP Securities reissued a "market outperform" rating and set a $64.00 price target on shares of Global-e Online in a research report on Thursday, May 15th. Wells Fargo & Company dropped 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. Finally, Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of Global-e Online in a research report on Thursday, May 15th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock 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.