Sterling Investment Advisors Ltd. lessened its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 18.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,875 shares of the company's stock after selling 13,200 shares during the quarter. Sterling Investment Advisors Ltd.'s holdings in Global-E Online were worth $2,225,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Clearbridge Investments LLC purchased a new position in Global-E Online during the second quarter worth approximately $83,036,000. Brown Capital Management LLC acquired a new stake in shares of Global-E Online during the 1st quarter worth $69,352,000. Capital World Investors raised its position in shares of Global-E Online by 60.5% in the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company's stock worth $181,150,000 after buying an additional 1,877,953 shares during the period. Dragoneer Investment Group LLC boosted its holdings in 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 valued at $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in Global-E Online in the second quarter valued at $36,182,000. Institutional investors and hedge funds own 94.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on GLBE. The Goldman Sachs Group restated a "buy" rating and issued a $43.00 price objective on shares of Global-E Online in a report on Monday, July 1st. Piper Sandler reaffirmed a "buy" rating on shares of Global-E Online in a research report on Friday, October 18th. JMP Securities reiterated a "market outperform" rating and set a $46.00 price objective on shares of Global-E Online in a research note on Wednesday, July 10th. Bank of America cut their target price on shares of Global-E Online from $47.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.09.
Check Out Our Latest Stock Report on Global-E Online
Global-E Online Trading Down 0.9 %
GLBE stock traded down $0.35 during trading on Friday, reaching $37.95. The stock had a trading volume of 862,048 shares, compared to its average volume of 902,949. The firm has a fifty day moving average price of $36.47 and a 200 day moving average price of $34.14. The company has a market capitalization of $6.23 billion, a P/E ratio of -51.28 and a beta of 1.10. Global-E Online Ltd. has a 1-year low of $27.30 and a 1-year high of $42.88.
Global-E Online (NASDAQ:GLBE - Get Free Report) last released 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 analysts' expectations of $165.95 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. The company's revenue was up 26.0% compared to the same quarter last year. Sell-side analysts predict that Global-E Online Ltd. will post -0.5 EPS for the current year.
Global-E Online Profile
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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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