Marshall Wace LLP trimmed its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 37.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,689 shares of the company's stock after selling 191,353 shares during the period. Marshall Wace LLP owned about 0.19% of Global-E Online worth $11,378,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Global-E Online during the 4th quarter worth approximately $141,000. RiverPark Advisors LLC grew its stake in Global-E Online by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 3,650 shares of the company's stock worth $133,000 after acquiring an additional 2,858 shares during the period. 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 worth $146,000 after acquiring an additional 624 shares during the period. Intech Investment Management LLC purchased a new stake in Global-E Online in the 4th quarter worth approximately $233,000. Finally, 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 worth $215,000 after acquiring an additional 780 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.
Global-E Online Stock Performance
Shares of NASDAQ:GLBE traded up $0.37 during midday trading on Friday, hitting $38.07. 401,325 shares of the company's stock traded hands, compared to its average volume of 1,121,403. The company has a market cap of $6.25 billion, a PE ratio of -51.45 and a beta of 1.09. The firm's fifty day moving average price is $34.82 and its two-hundred day moving average price is $33.86. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $42.88.
Global-E Online (NASDAQ:GLBE - Get Free Report) last posted 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. The business had revenue of $168.00 million for the quarter, compared to analyst estimates of $165.95 million. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The business's quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.22) EPS. As a group, equities research analysts anticipate that Global-E Online Ltd. will post -0.5 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have commented on GLBE shares. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $43.00 target price on shares of Global-E Online in a research note on Monday, July 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $48.00 target price on shares of Global-E Online in a research note on Thursday, August 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 target price on shares of Global-E Online in a research note on Wednesday, July 10th. KeyCorp lowered their target price on shares of Global-E Online from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Thursday, August 15th. Finally, Piper Sandler lowered their target price on shares of Global-E Online from $47.00 to $44.00 and set an "overweight" rating for the company in a research note on Thursday, August 15th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Global-E Online has a consensus rating of "Buy" and a consensus target price of $42.82.
Check Out Our Latest Research Report on GLBE
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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