What happened
According to a May 13, 2026, SEC filing, Deepwater Asset Management sold 247,864 shares of Global-E Online (GLBE +1.45%) during the first quarter. The estimated value of the trade was $8.72 million, calculated using the average share price for the period. The end-of-quarter stake was 144,199 shares, with the position’s value dropping by $10.96 million during the quarter due to both trading and price changes.
What else to know
After the sale, GLBE represented 2.82% of Deepwater’s portfolio.
- Top holdings after the filing:
- Reddit: $8.85 million (5.6% of AUM)
- Sterling Infrastructure: $8.43 million (5.3% of AUM)
- Nu Holdings: $7.57 million (4.8% of AUM)
- Credo Technology Group: $6.89 million (4.4% of AUM)
- Uber Technologies: $6.24 million (4.0% of AUM)
As of May 13, 2026, shares were priced at $27.54, down 35.0% over one year; one-year alpha versus the S&P 500 was negative 62 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close May 13, 2026) | $27.54 |
| Market capitalization | $4.67 billion |
| Revenue (TTM) | $962.20 million |
| Net income (TTM) | $68.27 million |
Company snapshot
Global-e Online:
- Provides a technology platform for direct-to-consumer cross-border e-commerce, enabling international online shopping and merchant sales worldwide.
- Serves global merchants seeking to reach international consumers, with a focus on brands and retailers expanding their cross-border e-commerce presence.
- Is headquartered in Petah Tikva, Israel, with operations in multiple international markets.
Global-E Online is a leading provider of cross-border e-commerce solutions, helping merchants sell directly to consumers in international markets.
What this transaction means for investors
It looked like Deepwater had to do some selling in the first quarter, as it reduced or closed 34 positions and added to or opened only 16 new ones — and Global-e Online got caught up in the selling. Given this widespread selling — and the fact that Deepwater still holds 2.8% of its portfolio in GLBE — I don’t think the sale is anything for investors to panic over.
In fact, Global-e Online remains a core holding for me personally, and I will likely be adding to my shares following the stock’s 30% decline in 2026. Many software and platform stocks like GLBE have been absolutely crushed lately over the threat of AI potentially disrupting their operations, but I don’t think this will be the case here. Global-e Online solves the numerous, highly complex intricacies of selling products in foreign lands, and this isn’t a simple task that most of its customers would be interested in “vibe coding.”
Furthermore, AI can’t really replicate the discussions that take place between GLBE and foreign customs officials, for example. Or secure low-cost cross-border shipping and localized final-mile delivery for a product sent halfway around the globe. While AI may be able to mimic certain features that Global-e provides over time, it won’t be the one-stop shop that the company’s platform is for sellers — at least right away.
With Shopify and Global-e renewing and expanding upon their partnership in 2025 for another three years, it seems clear to me that GLBE’s value proposition remains strong, as one of the world’s leading e-commerce companies would rather partner with them than try to sell internationally on its own. Trading at 18 times FCF — even after accounting for stock-based compensation — Global-e Online remains one of my favorite growth stocks after sales just rose 33% in its latest quarter.
Josh Kohn-Lindquist has positions in Global-E Online, Nu Holdings, Shopify, and Uber Technologies. The Motley Fool has positions in and recommends Global-E Online, Nu Holdings, Reddit, Shopify, Sterling Infrastructure, and Uber Technologies. The Motley Fool has a disclosure policy.
