Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 88.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 10,538 shares of the company’s stock after selling 82,256 shares during the period. SG Americas Securities LLC’s holdings in Global-E Online were worth $405,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Global-E Online by 10.0% during the first quarter. Sei Investments Co. now owns 262,603 shares of the company’s stock worth $9,546,000 after buying an additional 23,823 shares during the period. Tidal Investments LLC acquired a new position in Global-E Online during the first quarter worth approximately $2,521,000. Capital International Investors increased its position in Global-E Online by 51.2% during the first quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock worth $36,467,000 after buying an additional 339,591 shares during the period. Dragoneer Investment Group LLC increased its position in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after buying an additional 1,288,829 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Global-E Online during the second quarter worth approximately $623,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Price Performance

Global-E Online stock opened at $37.65 on Friday. Global-E Online Ltd. has a 1-year low of $27.30 and a 1-year high of $42.88. The company has a market cap of $6.18 billion, a PE ratio of -50.88 and a beta of 1.10. The stock’s 50 day moving average price is $35.84 and its 200 day moving average price is $34.04.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. Global-E Online’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) earnings per share. On average, equities research analysts anticipate that Global-E Online Ltd. will post -0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLBE has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research note on Thursday, August 15th. Piper Sandler lowered their target price on Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. JMP Securities reiterated a “market outperform” rating and issued a $46.00 target price on shares of Global-E Online in a research note on Wednesday, July 10th. KeyCorp lowered their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Morgan Stanley lifted their target price on Global-E Online from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $42.82.

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.