State of New Jersey Common Pension Fund D trimmed its holdings in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 37.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,337 shares of the company's stock after selling 27,000 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Global-E Online were worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of GLBE. Fred Alger Management LLC acquired a new position in shares of Global-E Online in the 3rd quarter valued at $53,493,000. SG Americas Securities LLC raised its position in Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock worth $34,703,000 after purchasing an additional 625,855 shares in the last quarter. Eventide Asset Management LLC raised its stake in Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company's stock worth $60,091,000 after acquiring an additional 580,450 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock worth $70,979,000 after purchasing an additional 533,675 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. boosted its position in Global-E Online by 128.4% in the third quarter. Arohi Asset Management PTE Ltd. now owns 629,606 shares of the company's stock valued at $24,202,000 after buying an additional 353,973 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.
Global-E Online Stock Down 3.3 %
Shares of GLBE traded down $1.56 during trading hours on Friday, hitting $45.07. The company had a trading volume of 2,912,725 shares, compared to its average volume of 1,496,892. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $63.69. The business has a fifty day moving average of $56.72 and a 200-day moving average of $45.56. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of -102.43, a PEG ratio of 5.03 and a beta of 1.23.
Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.60% and a negative net margin of 10.04%. The company's revenue was up 41.8% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. On average, equities analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Benchmark reduced their target price on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday. UBS Group lowered their price target on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Friday. Needham & Company LLC raised their price objective on shares of Global-E Online from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday. The Goldman Sachs Group lifted their target price on Global-E Online from $56.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Finally, Morgan Stanley boosted their price target on shares of Global-E Online from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $59.58.
Check Out Our Latest Analysis on GLBE
Global-E Online Company 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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