California State Teachers Retirement System reduced its stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 20.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,902 shares of the company's stock after selling 27,930 shares during the period. California State Teachers Retirement System owned approximately 0.07% of Global-E Online worth $5,993,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Fred Alger Management LLC increased its holdings in shares of Global-E Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after buying an additional 2,847,868 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Global-E Online in the 4th quarter worth about $40,146,000. Norges Bank bought a new stake in shares of Global-E Online in the 4th quarter worth about $38,875,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Global-E Online in the 4th quarter worth about $27,231,000. Finally, Amundi increased its holdings in shares of Global-E Online by 126.9% in the 4th quarter. Amundi now owns 788,542 shares of the company's stock worth $41,619,000 after buying an additional 440,953 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. KeyCorp dropped their price target on shares of 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. Wells Fargo & Company dropped their price target on shares of Global-E Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. UBS Group dropped their price target on shares of 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. JMP Securities reissued a "market outperform" rating and issued a $64.00 price objective on shares of Global-E Online in a research report on Thursday, May 15th. 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. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $48.00.
View Our Latest Report on GLBE
Global-E Online Stock Up 4.1%
Shares of GLBE traded up $1.37 on Thursday, reaching $35.27. The stock had a trading volume of 550,250 shares, compared to its average volume of 1,497,909. The firm has a market capitalization of $5.99 billion, a PE ratio of -80.02, a PEG ratio of 4.61 and a beta of 1.26. The firm has a 50-day moving average of $34.02 and a 200 day moving average of $45.04. Global-E Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69.
Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business had revenue of $189.88 million for the quarter, compared to analysts' expectations of $187.84 million. During the same quarter last year, the firm earned ($0.19) earnings per share. The business's revenue was up 30.2% on a year-over-year basis. On average, sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.
Global-E Online Profile
(
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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