Allspring Global Investments Holdings LLC decreased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 37.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,050 shares of the company's stock after selling 341,615 shares during the period. Allspring Global Investments Holdings LLC owned 0.35% of Global-E Online worth $30,542,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp grew its holdings in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after acquiring an additional 197 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company's stock worth $362,000 after acquiring an additional 393 shares during the period. Juncture Wealth Strategies LLC grew its holdings in shares of Global-E Online by 3.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company's stock worth $718,000 after acquiring an additional 494 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Global-E Online by 6.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company's stock worth $300,000 after acquiring an additional 500 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Global-E Online by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company's stock worth $1,235,000 after acquiring an additional 508 shares during the period. Institutional investors own 94.60% of the company's stock.
Analysts Set New Price Targets
GLBE has been the topic of several recent research reports. Morgan Stanley upped their price target on Global-E Online from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Raymond James upped their price target on Global-E Online from $41.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Needham & Company LLC upped their price target on Global-E Online from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday. Jefferies Financial Group upped their price target on Global-E Online from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. Finally, Piper Sandler upped their price target on Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $56.67.
Check Out Our Latest Research Report on GLBE
Global-E Online Stock Performance
Shares of NASDAQ GLBE traded down $11.00 during midday trading on Wednesday, hitting $50.90. 3,895,106 shares of the stock traded hands, compared to its average volume of 1,398,015. The firm has a 50-day moving average of $56.99 and a two-hundred day moving average of $45.51. The firm has a market capitalization of $8.36 billion, a P/E ratio of -87.76, a PEG ratio of 6.47 and a beta of 1.23. Global-E Online Ltd. has a one year low of $28.11 and a one year high of $63.69.
Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to analysts' expectations of $250.96 million. Global-E Online had a negative return on equity of 15.05% and a negative net margin of 14.68%. The company's revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. Equities analysts forecast that Global-E Online Ltd. will post -0.47 earnings per share for the current fiscal year.
About Global-E Online
(
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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