Y.D. More Investments Ltd Reduces Holdings in Global-e Online Ltd. $GLBE

Y.D. More Investments Ltd cut its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 10.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,620 shares of the company’s stock after selling 17,170 shares during the period. Y.D. More Investments Ltd owned about 0.09% of Global-e Online worth $5,186,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research raised Global-e Online to a “hold” rating in a report on Friday, August 8th. The Goldman Sachs Group lifted their target price on Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Global-e Online in a research note 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Global-e Online presently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

Global-e Online Price Performance

Shares of NASDAQ:GLBE opened at $35.50 on Friday. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of -208.82, a price-to-earnings-growth ratio of 1.89 and a beta of 1.25. The business’s 50 day simple moving average is $35.65 and its 200-day simple moving average is $34.24. 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) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.06 EPS for the quarter, topping the consensus estimate 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 business had revenue of $214.88 million for the quarter, compared to analyst estimates of $207.95 million. During the same period in the previous year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, equities analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Global-e Online announced that its Board of Directors has initiated a share buyback program on Thursday, September 4th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.