Global-e Online Ltd. $GLBE Shares Sold by Y.D. More Investments Ltd

Y.D. More Investments Ltd decreased its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 10.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,620 shares of the company’s stock after selling 17,170 shares during the quarter. Y.D. More Investments Ltd’s holdings in Global-e Online were worth $5,186,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GLBE. Police & Firemen s Retirement System of New Jersey increased its position in shares of Global-e Online by 32.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,904 shares of the company’s stock worth $802,000 after acquiring an additional 5,882 shares in the last quarter. Future Fund LLC increased its holdings in Global-e Online by 385.0% in the 2nd quarter. Future Fund LLC now owns 33,749 shares of the company’s stock valued at $1,132,000 after purchasing an additional 26,791 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Global-e Online in the second quarter valued at about $610,000. Yelin Lapidot Holdings Management Ltd. lifted its stake in shares of Global-e Online by 95.5% during the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 773,183 shares of the company’s stock worth $25,933,000 after purchasing an additional 377,628 shares in the last quarter. Finally, Summit Creek Advisors LLC lifted its stake in shares of Global-e Online by 41.8% during the second quarter. Summit Creek Advisors LLC now owns 272,032 shares of the company’s stock worth $9,124,000 after purchasing an additional 80,230 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GLBE shares. Weiss Ratings reiterated 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 report on Friday, August 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.08.

Global-e Online Stock Performance

Shares of GLBE opened at $35.50 on Friday. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The stock has a 50-day moving average price of $35.65 and a 200 day moving average price of $34.24. The company has a market capitalization of $6.03 billion, a P/E ratio of -208.82, a P/E/G ratio of 1.89 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $214.88 million for the quarter, compared to analyst estimates of $207.95 million. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%.Global-e Online’s quarterly revenue was up 27.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.13) EPS. As a group, equities research analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Global-e Online announced that its board has initiated a stock repurchase plan on Thursday, September 4th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.