TD Asset Management Inc Lowers Stock Position in Global-e Online Ltd. $GLBE

TD Asset Management Inc lessened its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,957 shares of the company’s stock after selling 11,880 shares during the quarter. TD Asset Management Inc’s holdings in Global-e Online were worth $2,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Barton Investment Management boosted its holdings in Global-e Online by 4.1% in the 2nd quarter. Barton Investment Management now owns 1,079,377 shares of the company’s stock valued at $36,202,000 after purchasing an additional 42,610 shares in the last quarter. Whitebark Investors LP boosted its holdings in Global-e Online by 216.5% in the 2nd quarter. Whitebark Investors LP now owns 223,100 shares of the company’s stock valued at $7,483,000 after purchasing an additional 152,600 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its holdings in Global-e Online by 1.1% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 55,500 shares of the company’s stock valued at $1,861,000 after purchasing an additional 600 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Global-e Online by 39.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 71,819 shares of the company’s stock valued at $2,409,000 after purchasing an additional 20,500 shares in the last quarter. Finally, Annex Advisory Services LLC purchased a new stake in Global-e Online in the 2nd quarter valued at approximately $12,190,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $34.31 on Wednesday. Global-e Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69. The company has a market capitalization of $5.82 billion, a P/E ratio of -201.82, a P/E/G ratio of 1.78 and a beta of 1.25. The business has a 50 day moving average price of $34.57 and a 200 day moving average price of $33.94.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $214.88 million during the quarter, compared to the consensus estimate of $207.95 million. During the same period in the previous year, the firm posted ($0.13) EPS. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Global-e Online declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 4th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial lifted their price target on shares of Global-e Online from $31.00 to $32.00 and gave the company a “sell” rating in a research report on Thursday, July 17th. The Goldman Sachs Group lifted their price target 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. Zacks Research upgraded shares of Global-e Online to a “hold” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Global-e Online in a research report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Global-e Online has an average rating of “Moderate Buy” and an average target price of $48.08.

About Global-e Online

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.