Wellington Management Group LLP Sells 21,789 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Wellington Management Group LLP decreased its position in Global-E Online Ltd. (NASDAQ:GLBE) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,243,759 shares of the company’s stock after selling 21,789 shares during the quarter. Wellington Management Group LLP owned approximately 0.76% of Global-E Online worth $49,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GLBE. Chicago Partners Investment Group LLC lifted its position in Global-E Online by 11.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 52,901 shares of the company’s stock worth $1,962,000 after acquiring an additional 5,330 shares during the last quarter. Eventide Asset Management LLC increased its stake in shares of Global-E Online by 0.5% in the fourth quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock worth $97,656,000 after purchasing an additional 13,350 shares during the period. Contour Asset Management LLC acquired a new position in shares of Global-E Online during the 4th quarter worth about $57,816,000. Parkwood LLC grew its holdings in Global-E Online by 6.0% in the 4th quarter. Parkwood LLC now owns 45,866 shares of the company’s stock valued at $1,818,000 after buying an additional 2,579 shares during the last quarter. Finally, Berylson Capital Partners LLC bought a new position in Global-E Online in the 4th quarter worth approximately $666,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Global-E Online from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. JMP Securities restated a “market outperform” rating and issued a $46.00 price target on shares of Global-E Online in a research report on Tuesday, May 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Tuesday, May 21st. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $33.00 to $37.00 in a research report on Tuesday, May 21st. Finally, Benchmark reaffirmed a “buy” rating and issued a $41.00 price target on shares of Global-E Online in a report on Tuesday, May 21st. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.83.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $31.21 on Friday. Global-E Online Ltd. has a 52-week low of $27.30 and a 52-week high of $45.72. The business has a fifty day moving average of $31.40 and a two-hundred day moving average of $35.18. The stock has a market cap of $5.13 billion, a PE ratio of -42.18 and a beta of 1.07.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The business had revenue of $145.90 million during the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.26) EPS. Analysts predict that Global-E Online Ltd. will post -0.52 earnings per share for the current year.

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.