Kayne Anderson Rudnick Investment Management LLC Decreases Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Kayne Anderson Rudnick Investment Management LLC cut its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,519,546 shares of the company's stock after selling 68,898 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.93% of Global-E Online worth $82,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Global-E Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company's stock worth $436,000 after buying an additional 200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Global-E Online by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company's stock valued at $908,000 after buying an additional 260 shares in the last quarter. Juncture Wealth Strategies LLC raised its holdings in Global-E Online by 3.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company's stock valued at $718,000 after acquiring an additional 494 shares during the period. Finally, Clay Northam Wealth Management LLC lifted its position in shares of Global-E Online by 3.0% during the fourth quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company's stock worth $1,256,000 after acquiring an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Analyst Ratings Changes

GLBE has been the subject of several recent research reports. Needham & Company LLC reduced their price target on Global-E Online from $64.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday. Piper Sandler decreased their price target on Global-E Online from $62.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday. KeyCorp cut their price objective on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company lowered 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 note on Wednesday, March 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $51.33.

Global-E Online Stock Up 5.5 %

Shares of NASDAQ GLBE traded up $1.82 during mid-day trading on Wednesday, reaching $34.76. 2,456,911 shares of the company were exchanged, compared to its average volume of 1,393,799. The stock has a market capitalization of $5.88 billion, a PE ratio of -79.00, a PEG ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The company's 50 day moving average price is $38.05 and its 200 day moving average price is $45.89.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company's revenue was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, sell-side analysts predict 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.