Allspring Global Investments Holdings LLC Has $19.61 Million Position in Global-e Online Ltd. (NASDAQ:GLBE)

Allspring Global Investments Holdings LLC lowered its stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 544,813 shares of the company's stock after selling 23,237 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.32% of Global-e Online worth $19,608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GLBE. SBI Securities Co. Ltd. purchased a new stake in Global-e Online in the 4th quarter valued at about $99,000. Siemens Fonds Invest GmbH purchased a new stake in Global-e Online during the 4th quarter worth approximately $124,000. US Bancorp DE acquired a new stake in shares of Global-e Online during the fourth quarter worth about $157,000. State of Tennessee Department of Treasury acquired a new stake in shares of Global-e Online in the fourth quarter worth $199,000. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Global-e Online by 52.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,745 shares of the company's stock valued at $204,000 after buying an additional 1,287 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GLBE shares. Benchmark lowered their price objective on Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating and issued a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 14th. Truist Financial initiated coverage on Global-e Online in a report on Monday, June 2nd. They set a "sell" rating and a $31.00 price target on the stock. Raymond James Financial dropped their price objective on Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $40.00 target price on shares of Global-e Online in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.00.

Global-e Online Price Performance

Shares of NASDAQ GLBE traded up $0.55 during trading hours on Friday, hitting $33.35. 1,141,088 shares of the stock were exchanged, compared to its average volume of 1,538,599. The company's 50 day moving average is $33.75 and its 200 day moving average is $42.02. The firm has a market capitalization of $5.66 billion, a P/E ratio of -92.63, a P/E/G ratio of 1.98 and a beta of 1.25. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The business had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. During the same quarter last year, the company earned ($0.19) EPS. Global-e Online's revenue was up 30.2% on a year-over-year basis. Research analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

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.