T. Rowe Price Investment Management Inc. Buys 748,608 Shares of Global-e Online Ltd. $GLBE

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Global-e Online Ltd. by 149.9% during the 1st quarter, owning a total of 1,247,984 shares valued at approximately $44.5 million.
• The company's stock has shown a 5.1% increase, with current trading around $33.28, and a market cap of $5.65 billion.
• Global-e Online reported a quarterly revenue of $214.88 million, exceeding analyst expectations, and its earnings per share surpassed consensus estimates, marking a significant improvement from the prior year's losses.

T. Rowe Price Investment Management Inc. increased its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 149.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,247,984 shares of the company's stock after buying an additional 748,608 shares during the period. T. Rowe Price Investment Management Inc. owned 0.74% of Global-e Online worth $44,491,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GLBE. Berbice Capital Management LLC purchased a new position in shares of Global-e Online during the first quarter valued at $36,000. Assetmark Inc. acquired a new position in shares of Global-e Online during the 1st quarter worth about $45,000. Pacer Advisors Inc. raised its holdings in Global-e Online by 52.9% in the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock valued at $50,000 after acquiring an additional 488 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Global-e Online during the 1st quarter worth approximately $68,000. Finally, ASR Vermogensbeheer N.V. acquired a new stake in Global-e Online in the 1st quarter valued at approximately $122,000. Institutional investors own 94.60% of the company's stock.

Global-e Online Stock Performance

Shares of Global-e Online stock traded up $1.12 on Thursday, reaching $34.20. 902,242 shares of the company's stock were exchanged, compared to its average volume of 1,893,901. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The company has a market capitalization of $5.80 billion, a P/E ratio of -200.44, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24. The firm's 50-day moving average is $32.96 and its two-hundred day moving average is $36.09.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $214.88 million for the quarter, compared to the consensus estimate of $207.95 million. During the same period in the previous year, the firm earned ($0.13) EPS. The firm'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. On average, analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GLBE shares. Benchmark decreased their price objective on Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. JMP Securities reiterated a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a report on Thursday, May 15th. Raymond James Financial dropped their target price on Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Zacks Research upgraded Global-e Online to a "hold" rating in a research report on Friday, August 8th. Finally, Truist Financial upped their price target on shares of Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a research report on Thursday, July 17th. Eleven equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.33.

Global-e Online Company 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.