Cadian Capital Management LP reduced its stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 87.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 420,000 shares of the company's stock after selling 2,925,115 shares during the quarter. Global-E Online makes up approximately 1.3% of Cadian Capital Management LP's investment portfolio, making the stock its 23rd largest position. Cadian Capital Management LP owned about 0.26% of Global-E Online worth $22,903,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp grew its holdings in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after buying an additional 748 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Global-E Online during the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC purchased a new stake in shares of Global-E Online during the 4th quarter valued at approximately $65,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Global-E Online during the 4th quarter valued at approximately $99,000. 94.60% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have issued reports on GLBE. KeyCorp cut their target price on Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler reduced their price objective on shares of Global-E Online from $62.00 to $42.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Benchmark reduced their price target 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, February 20th. Finally, The Goldman Sachs Group lowered their price objective on shares of Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $51.33.
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Global-E Online Trading Up 0.6 %
GLBE traded up $0.21 on Friday, hitting $37.74. 1,249,171 shares of the company were exchanged, compared to its average volume of 1,393,002. The firm has a 50-day moving average price of $35.51 and a two-hundred day moving average price of $45.85. Global-E Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69. The company has a market cap of $6.38 billion, a price-to-earnings ratio of -85.77, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.
Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) 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 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 quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. Equities analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current year.
About Global-E Online
(
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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