CenterBook Partners LP Buys 220,233 Shares of Global-e Online Ltd. $GLBE

CenterBook Partners LP boosted its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 232.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 315,024 shares of the company’s stock after acquiring an additional 220,233 shares during the period. CenterBook Partners LP owned 0.19% of Global-e Online worth $10,566,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLBE. Assetmark Inc. bought a new stake in shares of Global-e Online in the 1st quarter worth approximately $45,000. Geneos Wealth Management Inc. raised its stake in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after buying an additional 528 shares during the period. Pacer Advisors Inc. lifted its position 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 valued at $50,000 after buying an additional 488 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Global-e Online during the 1st quarter worth $68,000. Finally, ASR Vermogensbeheer N.V. bought a new stake in Global-e Online in the 1st quarter valued at about $122,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLBE has been the subject of several recent research reports. Zacks Research upgraded shares of Global-e Online to a “hold” rating in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Global-e Online in a research note on Wednesday, October 8th. Piper Sandler increased their target price on Global-e Online from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Global-e Online in a report on Thursday. Finally, Benchmark reiterated a “buy” rating on shares of Global-e Online in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Global-e Online currently has an average rating of “Moderate Buy” and an average target price of $48.45.

Global-e Online Price Performance

GLBE opened at $35.90 on Friday. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The firm has a market capitalization of $6.09 billion, a P/E ratio of 1,197.07, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. The company has a fifty day moving average price of $35.57 and a 200-day moving average price of $34.23.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, November 19th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $220.78 million during the quarter, compared to analyst estimates of $217.95 million. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The firm’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) earnings per share. Global-e Online has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts expect that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Global-e Online declared that its board has authorized a stock buyback program on Thursday, September 4th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management 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.