Fox Run Management L.L.C. Trims Stock Position in Global-e Online Ltd. $GLBE

Fox Run Management L.L.C. lessened its position in Global-e Online Ltd. (NASDAQ:GLBE) by 63.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,246 shares of the company’s stock after selling 11,036 shares during the quarter. Fox Run Management L.L.C.’s holdings in Global-e Online were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in Global-e Online during the 1st quarter valued at about $45,000. Geneos Wealth Management Inc. boosted 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 valued at $47,000 after purchasing an additional 528 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Global-e Online by 52.9% in 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Global-e Online during the first quarter valued at $68,000. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Global-e Online during the 1st quarter valued at $122,000. Institutional investors own 94.60% of the company’s stock.

Global-e Online Price Performance

GLBE stock opened at $35.50 on Friday. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The business has a 50-day moving average price of $35.65 and a 200 day moving average price of $34.25. The company has a market capitalization of $6.03 billion, a P/E ratio of -208.82, a PEG ratio of 1.90 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 the consensus estimate of $0.02 by $0.04. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%.The business had revenue of $214.88 million for the quarter, compared to analysts’ expectations of $207.95 million. During the same quarter last year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, analysts anticipate 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 approved a share buyback plan on Thursday, September 4th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GLBE has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Global-e Online in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their price target 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, Zacks Research raised shares of Global-e Online to a “hold” rating in a research note on Friday, August 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.08.

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.