Canada Pension Plan Investment Board Has $4.54 Million Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Canada Pension Plan Investment Board cut its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 36.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,254 shares of the company's stock after selling 48,100 shares during the period. Canada Pension Plan Investment Board owned about 0.05% of Global-E Online worth $4,540,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Clearbridge Investments LLC boosted its stake in Global-E Online by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock valued at $123,708,000 after buying an additional 34,391 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock valued at $70,979,000 after purchasing an additional 533,675 shares during the last quarter. American Century Companies Inc. increased its position in Global-E Online by 9.1% during the 4th quarter. American Century Companies Inc. now owns 1,209,833 shares of the company's stock worth $65,972,000 after purchasing an additional 100,445 shares in the last quarter. Geode Capital Management LLC boosted its position in Global-E Online by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 972,025 shares of the company's stock valued at $52,809,000 after buying an additional 38,549 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Global-E Online by 3.5% during the fourth quarter. Wellington Management Group LLP now owns 923,051 shares of the company's stock worth $50,334,000 after buying an additional 31,019 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on GLBE. KeyCorp raised their price objective on Global-E Online from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Benchmark cut their price target on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. UBS Group lowered their price objective on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Wells Fargo & Company cut their target price on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their price target on shares of Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online has an average rating of "Buy" and a consensus price target of $55.00.

Global-E Online Stock Up 3.9 %

GLBE stock opened at $32.94 on Wednesday. The company's fifty day simple moving average is $38.61 and its 200 day simple moving average is $45.97. Global-E Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of -74.86, a PEG ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same period in the previous year, the business earned $0.22 EPS. The firm's revenue was up 41.8% compared to the same quarter last year. Research analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Global-E Online 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.

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