Summit Creek Advisors LLC Lowers Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Summit Creek Advisors LLC trimmed its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 16.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,468 shares of the company's stock after selling 48,734 shares during the quarter. Global-E Online comprises 1.8% of Summit Creek Advisors LLC's investment portfolio, making the stock its 29th biggest holding. Summit Creek Advisors LLC owned 0.15% of Global-E Online worth $13,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fred Alger Management LLC purchased a new stake in shares of Global-E Online during the third quarter worth approximately $53,493,000. SG Americas Securities LLC raised its position in Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock worth $34,703,000 after buying an additional 625,855 shares during the last quarter. Eventide Asset Management LLC lifted its stake in shares of Global-E Online by 59.1% in the 3rd 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 during the period. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 533,675 shares during the period. Finally, Amundi boosted its holdings in shares of 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 acquiring an additional 440,953 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

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Global-E Online Price Performance

GLBE traded down $1.04 during midday trading on Friday, reaching $35.68. 1,102,673 shares of the company's stock were exchanged, compared to its average volume of 1,293,906. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $63.69. The stock has a market capitalization of $5.86 billion, a PE ratio of -81.09, a P/E/G ratio of 4.61 and a beta of 1.30. The business's 50-day moving average price is $48.65 and its 200 day moving average price is $46.55.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company's quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. As a group, analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GLBE shares. Needham & Company LLC restated a "buy" rating and issued a $64.00 price objective on shares of Global-E Online in a research report on Wednesday, March 12th. KeyCorp raised their price target on Global-E Online from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Piper Sandler upped their price objective on Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Wells Fargo & Company cut their price objective on Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $55.00 to $46.00 in a research note on Wednesday. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $58.33.

Global-E Online 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.