Global-e Online Ltd. $GLBE Shares Purchased by Northern Trust Corp

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

A number of other hedge funds have also recently modified their holdings of GLBE. State of Tennessee Department of Treasury purchased a new stake in shares of Global-e Online in the fourth quarter worth about $199,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Global-e Online by 16.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,157 shares of the company's stock worth $3,281,000 after buying an additional 8,711 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Global-e Online by 1.3% in the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company's stock worth $930,000 after buying an additional 227 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Global-e Online in the fourth quarter worth about $270,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Global-e Online by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock worth $1,991,000 after buying an additional 630 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Wall Street Analyst Weigh In

GLBE has been the topic of a number of recent research reports. Raymond James Financial lowered their target price on 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. Wells Fargo & Company lowered their price target on Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. JMP Securities reiterated 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. Truist Financial increased their price target on Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a research report on Thursday, July 17th. Finally, Piper Sandler reiterated an "overweight" rating and set a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 14th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $48.33.

Global-e Online Stock Up 2.1%

Shares of Global-e Online stock traded up $0.72 during mid-day trading on Friday, reaching $35.78. 2,077,806 shares of the stock traded hands, compared to its average volume of 1,932,853. The business has a 50-day moving average of $33.26 and a 200 day moving average of $34.53. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The stock has a market capitalization of $6.07 billion, a PE ratio of -210.47, a PEG ratio of 1.91 and a beta of 1.24.

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 business had revenue of $214.88 million during the quarter, compared to analysts' expectations of $207.95 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The business's 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. On average, equities research analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Global-e Online declared that its Board of Directors has approved a share repurchase plan on Thursday, September 4th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.