Summit Creek Advisors LLC Decreases Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• Summit Creek Advisors LLC has reduced its holdings in Global-e Online Ltd. by 23.4%, selling 58,666 shares during the first quarter, and now owns approximately 0.11% of the company worth about $6.84 million.
• Global-e Online reported earnings per share of ($0.11) for the quarter, exceeding analyst expectations, with a 30.2% increase in revenue year-over-year.
• Major institutions have also modified their holdings, with 94.60% of the stock now owned by hedge funds and institutional investors, illustrating strong interest in Global-e Online's market position.

Summit Creek Advisors LLC reduced its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 191,802 shares of the company's stock after selling 58,666 shares during the quarter. Summit Creek Advisors LLC owned about 0.11% of Global-e Online worth $6,838,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GLBE. Berbice Capital Management LLC bought a new stake in shares of Global-e Online during the 1st quarter worth $36,000. Assetmark Inc. bought a new position in shares of Global-e Online in the 1st quarter valued at $45,000. Pacer Advisors Inc. raised its position in Global-e Online by 52.9% in the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock valued at $50,000 after purchasing an additional 488 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new position in shares of Global-e Online in the fourth quarter valued at approximately $124,000. Finally, State of Tennessee Department of Treasury acquired a new position in Global-e Online in the 4th quarter valued at approximately $199,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Price Performance

Shares of Global-e Online stock traded down $1.07 during trading hours on Thursday, reaching $32.14. The company had a trading volume of 559,874 shares, compared to its average volume of 1,876,647. The firm has a market cap of $5.46 billion, a PE ratio of -89.69, a price-to-earnings-growth ratio of 2.03 and a beta of 1.25. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The business has a fifty day simple moving average of $32.95 and a 200 day simple moving average of $39.56.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $189.88 million during the quarter, compared to analyst estimates of $187.84 million. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The firm's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share. On average, research analysts forecast that Global-e Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLBE. Piper Sandler reaffirmed an "overweight" rating and set a $42.00 target price on shares of Global-e Online in a research report on Wednesday, May 14th. The Goldman Sachs Group cut their price target on Global-e Online from $59.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Global-e Online in a research note on Thursday, May 15th. Wells Fargo & Company dropped their target price on Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Finally, JMP Securities reaffirmed 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. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.08.

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.