Raymond James Financial Inc. Purchases 109,220 Shares of Global-e Online Ltd. $GLBE

Key Points

• Raymond James Financial Inc. significantly increased its stake in Global-e Online Ltd. by 207.6%, now holding approximately 0.10% of the company, valued at about $5.77 million.
• Global-e Online reported a 27.9% year-over-year revenue increase for the latest quarter, with earnings per share of $0.06, surpassing estimates.
• Institutional investors and hedge funds currently own 94.60% of Global-e Online's stock, indicating strong institutional interest in the company.

Raymond James Financial Inc. lifted its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 207.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,820 shares of the company's stock after acquiring an additional 109,220 shares during the quarter. Raymond James Financial Inc. owned about 0.10% of Global-e Online worth $5,769,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GLBE. Voya Investment Management LLC increased its stake in shares of Global-e Online by 1.3% during the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company's stock valued at $930,000 after acquiring an additional 227 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Global-e Online during the fourth quarter valued at approximately $270,000. The Manufacturers Life Insurance Company increased its stake in shares of Global-e Online by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock valued at $1,991,000 after acquiring an additional 630 shares during the period. Northern Trust Corp boosted its holdings in Global-e Online by 51.4% during the fourth quarter. Northern Trust Corp now owns 441,795 shares of the company's stock worth $24,091,000 after buying an additional 149,958 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Global-e Online by 115.9% during the fourth quarter. Ameriprise Financial Inc. now owns 110,477 shares of the company's stock worth $6,024,000 after buying an additional 59,295 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-e Online Stock Up 0.6%

Shares of NASDAQ:GLBE traded up $0.21 during trading on Tuesday, reaching $36.53. 332,588 shares of the company traded hands, compared to its average volume of 1,882,251. The firm has a fifty day simple moving average of $33.32 and a 200 day simple moving average of $34.47. The firm has a market cap of $6.20 billion, a P/E ratio of -215.32, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-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. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. The business had revenue of $214.88 million during the quarter, compared to analyst estimates of $207.95 million. During the same quarter in the previous year, the business earned ($0.13) EPS. Global-e Online's quarterly 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. As a group, research analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current year.

Global-e Online announced that its board has initiated a stock repurchase plan on Thursday, September 4th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

GLBE has been the subject of a number of research reports. JMP Securities restated a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a report on Thursday, May 15th. Piper Sandler restated an "overweight" rating and set a $42.00 target price on shares of Global-e Online in a report on Wednesday, May 14th. Wells Fargo & Company cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Raymond James Financial decreased their target price 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. Finally, Benchmark decreased their target price on Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.33.

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.