KLP Kapitalforvaltning AS Sells 3,700 Shares of Global-e Online Ltd. $GLBE

KLP Kapitalforvaltning AS reduced its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 13.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,100 shares of the company’s stock after selling 3,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Global-e Online were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in shares of Global-e Online by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,769,843 shares of the company’s stock worth $170,045,000 after acquiring an additional 308,218 shares during the period. Contour Asset Management LLC raised its position in shares of Global-e Online by 17.8% during the first quarter. Contour Asset Management LLC now owns 3,119,286 shares of the company’s stock worth $111,203,000 after purchasing an additional 472,380 shares during the period. Arohi Asset Management PTE Ltd. raised 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 purchasing an additional 836,522 shares during the period. Jennison Associates LLC grew its holdings in Global-e Online by 33,950.1% during the first quarter. Jennison Associates LLC now owns 1,418,526 shares of the company’s stock worth $50,570,000 after buying an additional 1,414,360 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Global-e Online by 149.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,247,984 shares of the company’s stock worth $44,491,000 after buying an additional 748,608 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on GLBE. Weiss Ratings restated a “sell (d+)” rating on shares of Global-e Online in a research note on Wednesday, October 8th. Zacks Research upgraded Global-e Online to a “hold” rating in a research note on Friday, August 8th. Truist Financial upped their price objective on Global-e Online from $31.00 to $32.00 and gave the company a “sell” rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group upped their price objective on Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.08.

Global-e Online Stock Performance

GLBE stock opened at $33.56 on Friday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of -197.41, a PEG ratio of 1.80 and a beta of 1.25. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The stock has a fifty day moving average of $34.60 and a 200-day moving average of $33.94.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $214.88 million for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.13) EPS. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts predict that Global-e Online Ltd. will post 0.25 EPS for the current year.

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

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.