Northern Trust Corp Boosts Stock Holdings in Global-e Online Ltd. $GLBE

Key Points

• Northern Trust Corp increased its holdings in Global-e Online Ltd. by 13.1% during the first quarter, owning 499,513 shares valued at approximately $17.8 million.
• A number of institutional investors, including Y Intercept Hong Kong Ltd. and Noked Israel Ltd., have also adjusted their stakes in Global-e Online, contributing to a total institutional ownership of 94.6%.
• Global-e Online recently reported a quarterly revenue increase of 27.9% year-over-year, with an EPS of $0.06, surpassing analysts' expectations of $0.02.

Northern Trust Corp raised its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 13.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 499,513 shares of the company's stock after purchasing an additional 57,718 shares during the quarter. Northern Trust Corp owned 0.30% of Global-e Online worth $17,808,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd acquired a new stake in shares of Global-e Online in the 1st quarter valued at approximately $1,165,000. Sphera Management Technology Funds Ltd acquired a new position in Global-e Online during the fourth quarter worth $1,636,000. Ethic Inc. purchased a new position in Global-e Online in the fourth quarter worth $428,000. Noked Israel Ltd lifted its holdings in Global-e Online by 68.5% in the fourth quarter. Noked Israel Ltd now owns 252,818 shares of the company's stock valued at $13,786,000 after acquiring an additional 102,818 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 valued at $36,961,000 after acquiring an additional 34,080 shares during the period. Institutional investors and hedge funds own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GLBE. Raymond James Financial lowered their price target on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. JMP Securities reissued a "market outperform" rating and set a $64.00 price objective on shares of Global-e Online in a report on Thursday, May 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 target price on shares of Global-e Online in a report on Wednesday, May 14th. Wells Fargo & Company reduced their price target on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Finally, Zacks Research raised Global-e Online to a "hold" rating in a research note on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Global-e Online currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.33.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $33.15 on Wednesday. Global-e Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69. The company has a market capitalization of $5.63 billion, a P/E ratio of -195.00, a P/E/G ratio of 1.78 and a beta of 1.24. The business has a 50 day moving average price of $33.12 and a 200 day moving average price of $35.11.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.06 EPS for the quarter, beating 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 analysts' expectations of $207.95 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. Global-e Online's quarterly 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, research analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

About Global-e Online

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.

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.