Wasatch Advisors LP Reduces Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Wasatch Advisors LP decreased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 1.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,286,815 shares of the company’s stock after selling 19,493 shares during the quarter. Wasatch Advisors LP’s holdings in Global-E Online were worth $70,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Fifth Third Bancorp boosted its holdings in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Global-E Online by 2.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after acquiring an additional 200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Global-E Online by 1.6% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock worth $908,000 after purchasing an additional 260 shares during the period. Juncture Wealth Strategies LLC grew its stake in shares of Global-E Online by 3.9% in the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after buying an additional 494 shares during the period. Finally, Clay Northam Wealth Management LLC increased its holdings in shares of Global-E Online by 3.0% during the 4th quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock worth $1,256,000 after buying an additional 675 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Price Performance

Shares of NASDAQ:GLBE opened at $32.47 on Wednesday. Global-E Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The firm has a market capitalization of $5.49 billion, a P/E ratio of -73.80, a P/E/G ratio of 4.61 and a beta of 1.36. The company’s fifty day moving average price is $41.54 and its 200 day moving average price is $46.14.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to analysts’ expectations 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 business’s revenue was up 41.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. On average, sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. KeyCorp boosted their price target on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Piper Sandler lifted their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. UBS Group dropped their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $57.00.

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.