Abdiel Capital Advisors LP Increases Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Abdiel Capital Advisors LP boosted its position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,776,495 shares of the company's stock after acquiring an additional 95,741 shares during the quarter. Global-E Online accounts for 17.3% of Abdiel Capital Advisors LP's investment portfolio, making the stock its 2nd biggest position. Abdiel Capital Advisors LP owned 4.13% of Global-E Online worth $245,783,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Contour Asset Management LLC acquired a new position in shares of Global-E Online during the 4th quarter valued at $57,816,000. SRS Investment Management LLC purchased a new stake in shares of Global-E Online in the fourth quarter worth about $25,071,000. Bain Capital Public Equity Management II LLC grew its stake in shares of Global-E Online by 76.2% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 992,842 shares of the company's stock valued at $39,346,000 after buying an additional 429,367 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Global-E Online by 10.0% during the 1st quarter. Sei Investments Co. now owns 262,603 shares of the company's stock valued at $9,546,000 after buying an additional 23,823 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Global-E Online during the 1st quarter valued at about $2,521,000. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-E Online Stock Performance

Shares of Global-E Online stock traded down $0.62 during midday trading on Wednesday, reaching $37.50. 290,570 shares of the company's stock traded hands, compared to its average volume of 1,127,341. Global-E Online Ltd. has a 52 week low of $27.30 and a 52 week high of $42.88. The company's 50 day simple moving average is $34.66 and its 200 day simple moving average is $33.80. The company has a market cap of $6.16 billion, a price-to-earnings ratio of -51.05 and a beta of 1.09.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. The company had revenue of $168.00 million during the quarter, compared to analysts' expectations of $165.95 million. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The business's quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. As a group, equities research analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on GLBE. The Goldman Sachs Group reissued a "buy" rating and set a $43.00 target price on shares of Global-E Online in a research report on Monday, July 1st. JMP Securities reiterated a "market outperform" rating and issued a $46.00 price objective on shares of Global-E Online in a report on Wednesday, July 10th. Needham & Company LLC restated a "buy" rating and set a $48.00 target price on shares of Global-E Online in a research note on Thursday, August 15th. Piper Sandler dropped their target price on Global-E Online from $47.00 to $44.00 and set an "overweight" rating on the stock in a research report on Thursday, August 15th. Finally, KeyCorp reduced their price target on Global-E Online from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Thursday, August 15th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online presently has a consensus rating of "Buy" and a consensus target price of $42.82.

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.