Keenan Capital recently announced the acquisition of 95,988 shares of Global-E Online (NASDAQ: GLBE) in its SEC filing dated February 13, 2026, estimating the total transaction value at approximately $3.56 million, calculated using the average stock price over the quarter.
According to the February 13, 2026, SEC filing, Keenan Capital, LLC augmented its investment in Global-E Online (NASDAQ: GLBE) by acquiring 95,988 shares during the fourth quarter of 2025.
This move increased the estimated value of its holdings by approximately $10.05 million, reflecting both the enhanced share count and fluctuations in the stock’s price.
- This acquisition now constitutes 13.36% of Keenan Capital’s assets under management (AUM) as reported on their 13F.
- Notable top holdings following the filing include:
- NASDAQ: APP: $119.08 million (21.7% of AUM)
- NYSE: CWAN: $88.30 million (16.1% of AUM)
- NASDAQ: GLBE: $73.32 million (13.4% of AUM)
- NASDAQ: WDAY: $68.57 million (12.5% of AUM)
- NYSE: GDDY: $67.63 million (12.3% of AUM)
- As of February 12, 2026, the trading price of Global-E Online stood at $32.69, signifying a decline of 47.0% over the past year, which underperformed the S&P 500 by 59.88 percentage points.
| Metric | Value |
|---|---|
| Price (as of market close 2/12/26) | $32.69 |
| Market capitalization | $5.51 billion |
| Revenue (TTM) | $888.45 million |
| Net income (TTM) | $7.33 million |
- Global-E Online specializes in providing a technological platform that facilitates cross-border direct-to-consumer e-commerce, enabling merchants to engage in international sales while allowing consumers to shop from global brands.
- The company caters to online retailers and brands aiming to reach international customers across markets such as Israel, the United Kingdom, the United States, and others worldwide.
Global-E Online operates extensively within the cross-border e-commerce domain, employing over a thousand staff and serving a diverse array of merchants globally.
The firm’s strategic approach focuses on streamlining global online sales for brands by tackling payments, compliance, and logistics, thereby granting merchants access to a broad customer base.
Its unique platform provides a competitive edge, addressing the intricacies associated with international e-commerce, positioning it as a pivotal player in global retail expansion.
Allocating more than 13% of a portfolio to a stock that has depreciated by 47% over the past year reflects a profound conviction in the company’s long-term viability, rather than merely reacting to short-term price fluctuations.
Global-E’s third-quarter results substantiate this argument. Gross Merchandise Value (GMV) surged by 33%, reaching $1.51 billion, while revenue escalated by 25% to $220.8 million. Notably, the company reported a net profit of $13.2 million, a substantial turnaround from a $22.6 million loss the preceding year.
The organization has also raised its full-year 2025 revenue guidance to as high as $960.1 million, alongside projected adjusted EBITDA of between $185.6 million and $200 million. Such performance indicates a business not retreating into obscurity.
In the larger context of Keenan Capital’s portfolio, this investment stands alongside other high-growth software companies, such as AppLovin and Workday, illustrating a pattern of concentrated investments in scalable platforms with improving margins.
For long-term investors, the pivotal inquiry is whether cross-border commerce remains inherently underexploited. Should GMV continue its upward trajectory and cash flow expand correspondingly, the current downturn may be perceived less as a deterioration and more as an advantageous market dislocation.
Source link: Finance.yahoo.com.
