Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 643,316 shares of the company's stock after selling 203,778 shares during the period. Assenagon Asset Management S.A. owned about 0.39% of Global-E Online worth $24,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Juncture Wealth Strategies LLC acquired a new stake in shares of Global-E Online during the 3rd quarter worth approximately $487,000. Clearbridge Investments LLC purchased a new stake in Global-E Online during the second quarter worth $83,036,000. Mackenzie Financial Corp acquired a new stake in Global-E Online during the second quarter valued at $250,000. The Manufacturers Life Insurance Company increased its holdings in Global-E Online by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 36,359 shares of the company's stock valued at $1,319,000 after buying an additional 900 shares in the last quarter. Finally, Dragoneer Investment Group LLC raised its position in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company's stock worth $534,403,000 after acquiring an additional 1,288,829 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GLBE shares. JMP Securities restated a "market outperform" rating and set a $46.00 target price on shares of Global-E Online in a research report on Wednesday, July 10th. Bank of America dropped their price objective on Global-E Online from $47.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. KeyCorp reduced their target price on 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. The Goldman Sachs Group reiterated a "buy" rating and issued a $43.00 target price on shares of Global-E Online in a research report on Monday, July 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $48.00 price target on shares of Global-E Online in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $43.09.

Global-E Online Price Performance

Shares of NASDAQ:GLBE traded down $0.35 during midday trading on Friday, hitting $37.95. The company had a trading volume of 862,048 shares, compared to its average volume of 902,949. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $42.88. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of -51.28 and a beta of 1.10. The business's 50-day simple moving average is $36.47 and its 200-day simple moving average is $34.15.

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

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.