Vitruvian Partners LLP Buys New Stake in Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• Vitruvian Partners LLP has acquired a new position in Global-e Online Ltd. by purchasing 140,037 shares valued at approximately $4.99 million, making it the fund's sixth largest investment.
• Global-e Online reported a 30.2% increase in revenue year-over-year for the most recent quarter, totaling $189.88 million, and surpassed EPS expectations by $0.02.
• The company's stock is currently down 1.2%, with a market cap of $5.80 billion and a PE ratio of -94.94.

Vitruvian Partners LLP purchased a new stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 140,037 shares of the company's stock, valued at approximately $4,992,000. Global-e Online makes up 4.8% of Vitruvian Partners LLP's investment portfolio, making the stock its 6th biggest holding. Vitruvian Partners LLP owned approximately 0.08% of Global-e Online at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Global-e Online in the 1st quarter worth approximately $1,165,000. Sphera Management Technology Funds Ltd purchased a new position in shares of Global-e Online in the 4th quarter worth approximately $1,636,000. Ethic Inc. purchased a new position in shares of Global-e Online in the 4th quarter worth approximately $428,000. Noked Israel Ltd grew its position in shares of Global-e Online by 68.5% in the 4th quarter. Noked Israel Ltd now owns 252,818 shares of the company's stock worth $13,786,000 after buying an additional 102,818 shares during the last quarter. Finally, Barton Investment Management grew its position in shares of Global-e Online by 3.4% in the 1st quarter. Barton Investment Management now owns 1,036,767 shares of the company's stock worth $36,961,000 after buying an additional 34,080 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

Global-e Online Trading Down 5.2%

Shares of GLBE stock traded down $1.73 during trading hours on Friday, hitting $31.42. The company's stock had a trading volume of 1,612,930 shares, compared to its average volume of 1,236,561. The company has a 50 day moving average of $32.97 and a 200 day moving average of $39.15. The stock has a market cap of $5.33 billion, a PE ratio of -87.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results 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. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The firm had revenue of $189.88 million during the quarter, compared to analysts' expectations of $187.84 million. During the same period in the previous year, the business posted ($0.19) EPS. The business's revenue was up 30.2% compared to the same quarter last year. As a group, analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler reissued an "overweight" rating and set a $42.00 target price on shares of Global-e Online in a research report on Wednesday, May 14th. JMP Securities reissued a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Benchmark dropped their target price on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Truist Financial boosted their target price 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $40.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.08.

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.