Orbis Allan Gray Ltd Sells 291,428 Shares of Global-e Online Ltd. $GLBE

Key Points

• Orbis Allan Gray Ltd reduced its holdings in Global-e Online Ltd by 39.6%, selling 291,428 shares and owning 443,782 shares worth approximately $15.8 million.
• Institutional investors and hedge funds own a substantial 94.60% of Global-e Online's stock, indicating a significant level of confidence in the company.
• The company's Q2 earnings report showed a revenue of $214.88 million, surpassing expectations, and an EPS of $0.06, which exceeded the consensus estimate.

Orbis Allan Gray Ltd lowered its position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 39.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 443,782 shares of the company's stock after selling 291,428 shares during the quarter. Orbis Allan Gray Ltd owned approximately 0.26% of Global-e Online worth $15,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vident Advisory LLC increased its holdings in Global-e Online by 15.9% in the first quarter. Vident Advisory LLC now owns 8,736 shares of the company's stock valued at $311,000 after purchasing an additional 1,200 shares during the last quarter. Magnetar Financial LLC acquired a new position in Global-e Online in the first quarter valued at about $7,029,000. Canada Pension Plan Investment Board boosted its position in shares of Global-e Online by 147.5% during the first quarter. Canada Pension Plan Investment Board now owns 206,034 shares of the company's stock worth $7,345,000 after buying an additional 122,780 shares during the period. Arohi Asset Management PTE Ltd. boosted its position in shares of Global-e Online by 130.5% during the first quarter. Arohi Asset Management PTE Ltd. now owns 1,477,728 shares of the company's stock worth $52,681,000 after buying an additional 836,522 shares during the period. Finally, State of Wyoming boosted its position in shares of Global-e Online by 119.1% during the first quarter. State of Wyoming now owns 17,821 shares of the company's stock worth $635,000 after buying an additional 9,687 shares during the period. Institutional investors own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GLBE. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price objective on shares of Global-e Online in a research report on Thursday, May 15th. Truist Financial upped their price objective 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. Raymond James Financial reduced their price objective on Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. 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. Finally, Piper Sandler reissued 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 investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.33.

Global-e Online Trading Up 3.5%

NASDAQ:GLBE traded up $1.17 on Thursday, hitting $34.67. The company's stock had a trading volume of 1,202,036 shares, compared to its average volume of 1,882,044. The stock has a fifty day moving average of $33.15 and a two-hundred day moving average of $35.10. The firm has a market capitalization of $5.88 billion, a P/E ratio of -204.44, a price-to-earnings-growth ratio of 1.78 and a beta of 1.24. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $214.88 million for 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 business's revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) earnings per share. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current 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.