Deepwater Halves Global-e Online Position, Sells $9 Million in Stock
What happened
According to a May 13, 2026, SEC filing, Deepwater Asset Management sold 247,864 shares of Global-E Online (NASDAQ:GLBE) 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.
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:
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Provides a technology platform for direct-to-consumer cross-border e-commerce, enabling international online shopping and merchant sales worldwide.
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Serves global merchants seeking to reach international consumers, with a focus on brands and retailers expanding their cross-border e-commerce presence.
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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.”
