ARK Investment Management LLC lessened its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 9.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,340 shares of the company's stock after selling 46,617 shares during the quarter. ARK Investment Management LLC owned about 0.28% of Global-E Online worth $17,772,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Toronto Dominion Bank purchased a new stake in Global-E Online in the 2nd quarter valued at about $40,000. DekaBank Deutsche Girozentrale grew its stake in Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company's stock valued at $146,000 after buying an additional 624 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Global-E Online by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company's stock valued at $215,000 after buying an additional 780 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Global-E Online in the 2nd quarter valued at approximately $220,000. Finally, Avitas Wealth Management LLC purchased a new position in Global-E Online in the 2nd quarter valued at approximately $224,000. Institutional investors own 94.60% of the company's stock.
Wall Street Analyst Weigh In
GLBE has been the subject of several analyst reports. KeyCorp cut their price target on shares of Global-E Online from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Thursday, August 15th. Morgan Stanley cut shares of Global-E Online from an "overweight" rating to an "equal weight" rating and set a $40.00 price target on the stock. in a research report on Friday, October 18th. UBS Group dropped their target price on shares of Global-E Online from $50.00 to $48.00 and set a "buy" rating on the stock in a research note on Friday, October 18th. Bank of America dropped their target price on shares of Global-E Online from $47.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Finally, Piper Sandler reiterated a "buy" rating on shares of Global-E Online in a research report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Global-E Online presently has a consensus rating of "Moderate Buy" and an average target price of $43.09.
View Our Latest Stock Report on GLBE
Global-E Online Price Performance
Shares of NASDAQ GLBE traded up $0.27 during trading on Friday, hitting $40.05. 611,234 shares of the company were exchanged, compared to its average volume of 1,084,443. The company has a market cap of $6.58 billion, a price-to-earnings ratio of -61.20 and a beta of 1.10. Global-E Online Ltd. has a 1 year low of $27.30 and a 1 year high of $42.88. The firm's fifty day moving average price is $37.25 and its 200 day moving average price is $34.45.
Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm had revenue of $168.00 million during the quarter, compared to the consensus estimate of $165.95 million. During the same quarter in the previous year, the company posted ($0.22) EPS. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. On average, research analysts forecast that Global-E Online Ltd. will post -0.5 earnings per share for the current year.
Global-E Online Profile
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Free Report)
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.
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