Asset Management One Co. Ltd. Cuts Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Asset Management One Co. Ltd. lessened its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,586 shares of the company’s stock after selling 1,031 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Global-E Online were worth $2,013,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GLBE. Fifth Third Bancorp lifted its stake in shares of Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after purchasing an additional 748 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Global-E Online in the 3rd quarter valued at $32,000. Blue Trust Inc. increased its holdings in shares of Global-E Online by 696.1% in the 4th quarter. Blue Trust Inc. now owns 2,030 shares of the company’s stock valued at $111,000 after acquiring an additional 1,775 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in shares of Global-E Online in the 3rd quarter valued at $87,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Down 17.8 %

NASDAQ:GLBE opened at $50.90 on Thursday. The stock’s fifty day moving average is $56.90 and its two-hundred day moving average is $45.55. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $63.69. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of -87.76, a price-to-earnings-growth ratio of 6.47 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 15.05% and a negative net margin of 14.68%. The business had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was up 41.8% compared to the same quarter last year. On average, sell-side analysts expect that Global-E Online Ltd. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GLBE shares. KeyCorp boosted their target price on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler boosted their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Benchmark upped their price target on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Raymond James increased their target price on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC upped their price target on Global-E Online from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Global-E Online presently has an average rating of “Moderate Buy” and a consensus price target of $56.67.

Global-E Online Company Profile

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.