Nikko Asset Management Americas Inc. lowered its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,110,603 shares of the company's stock after selling 190,658 shares during the period. Nikko Asset Management Americas Inc. owned about 0.68% of Global-E Online worth $60,495,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC raised its position in shares of Global-E Online by 6.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company's stock valued at $42,043,000 after buying an additional 45,739 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of Global-E Online in the third quarter valued at approximately $53,493,000. JPMorgan Chase & Co. raised its position in shares of Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock valued at $70,979,000 after buying an additional 533,675 shares during the last quarter. Meitav Investment House Ltd. purchased a new stake in Global-E Online in the fourth quarter valued at approximately $454,000. Finally, Amundi grew its holdings in Global-E Online by 126.9% in the fourth quarter. Amundi now owns 788,542 shares of the company's stock valued at $41,619,000 after purchasing an additional 440,953 shares during the period. Institutional investors and hedge funds own 94.60% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Global-E Online from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Tuesday, February 18th. The Goldman Sachs Group boosted their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a "buy" rating in a report on Friday, January 10th. JMP Securities boosted their target price on shares of Global-E Online from $46.00 to $64.00 and gave the company a "market outperform" rating in a report on Thursday, November 21st. UBS Group lowered their target price on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Friday, February 21st. Finally, Piper Sandler boosted their price objective on shares of 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 equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.08.
Get Our Latest Report on GLBE
Global-E Online Stock Performance
Shares of GLBE stock traded down $0.75 on Tuesday, hitting $36.32. The stock had a trading volume of 1,671,014 shares, compared to its average volume of 1,265,415. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -82.55, a P/E/G ratio of 4.61 and a beta of 1.30. The stock's 50 day moving average is $51.35 and its 200-day moving average is $46.51. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $63.69.
Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its 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 business had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business's quarterly 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 earnings per share. Equities analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current year.
Global-E Online Profile
(
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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