Canada Pension Plan Investment Board Trims Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Canada Pension Plan Investment Board reduced its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 36.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,254 shares of the company's stock after selling 48,100 shares during the period. Canada Pension Plan Investment Board owned 0.05% of Global-E Online worth $4,540,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Clearbridge Investments LLC lifted its stake in shares of Global-E Online by 1.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock valued at $123,708,000 after acquiring an additional 34,391 shares during the period. JPMorgan Chase & Co. increased its holdings in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock worth $70,979,000 after buying an additional 533,675 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Global-E Online by 9.1% in the fourth quarter. American Century Companies Inc. now owns 1,209,833 shares of the company's stock valued at $65,972,000 after purchasing an additional 100,445 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Global-E Online by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 972,025 shares of the company's stock valued at $52,809,000 after purchasing an additional 38,549 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Global-E Online by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 923,051 shares of the company's stock worth $50,334,000 after purchasing an additional 31,019 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. KeyCorp lowered 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. The Goldman Sachs Group lowered their target price on shares of Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. UBS Group reduced their target price on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Morgan Stanley upgraded Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Finally, Piper Sandler dropped their target price on Global-E Online from $62.00 to $42.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $51.33.

Global-E Online Trading Down 1.3 %

NASDAQ:GLBE traded down $0.46 during trading hours on Monday, hitting $35.76. 765,866 shares of the stock were exchanged, compared to its average volume of 1,401,744. The firm's fifty day moving average price is $36.70 and its 200 day moving average price is $46.00. The company has a market cap of $6.05 billion, a P/E ratio of -81.27, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69.

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

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.