SG Americas Securities LLC Lowers Stock Position in Global-e Online Ltd. $GLBE

SG Americas Securities LLC cut its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 5.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 669,234 shares of the company’s stock after selling 39,415 shares during the period. SG Americas Securities LLC owned 0.39% of Global-e Online worth $22,446,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Assetmark Inc. bought a new stake in Global-e Online during the 1st quarter valued at $45,000. Geneos Wealth Management Inc. raised its position in shares of Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Global-e Online by 52.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock worth $50,000 after purchasing an additional 488 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Global-e Online during the first quarter valued at about $68,000. Finally, ASR Vermogensbeheer N.V. purchased a new position in Global-e Online in the first quarter valued at about $122,000. Institutional investors own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Zacks Research raised shares of Global-e Online to a “hold” rating in a research report on Friday, August 8th. The Goldman Sachs Group increased their target price on shares of Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global-e Online in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

Global-e Online Trading Down 0.4%

NASDAQ:GLBE opened at $35.50 on Friday. The company has a market capitalization of $6.03 billion, a P/E ratio of -208.82, a PEG ratio of 1.89 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. The firm has a fifty day simple moving average of $35.65 and a 200-day simple moving average of $34.24.

Global-e Online (NASDAQ:GLBE) last issued its earnings results 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 company had revenue of $214.88 million during 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%.The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) EPS. Equities analysts forecast that Global-e Online Ltd. will post 0.25 EPS for the current year.

Global-e Online announced that its board has approved a share buyback program on Thursday, September 4th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership 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.