Elevation Point Wealth Partners LLC Sells 11,533 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

Elevation Point Wealth Partners LLC reduced its position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 56.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,974 shares of the company's stock after selling 11,533 shares during the period. Elevation Point Wealth Partners LLC's holdings in Global-e Online were worth $320,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in Global-e Online by 6.9% in the fourth quarter. Van ECK Associates Corp now owns 35,103 shares of the company's stock worth $1,914,000 after purchasing an additional 2,275 shares in the last quarter. Blue Trust Inc. increased its position in shares of Global-e Online by 696.1% during the fourth quarter. Blue Trust Inc. now owns 2,030 shares of the company's stock valued at $111,000 after acquiring an additional 1,775 shares in the last quarter. Rhumbline Advisers increased its position in shares of Global-e Online by 3.7% during the fourth quarter. Rhumbline Advisers now owns 31,418 shares of the company's stock valued at $1,713,000 after acquiring an additional 1,123 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Global-e Online by 1,701.7% in the 4th quarter. Principal Financial Group Inc. now owns 121,576 shares of the company's stock worth $6,630,000 after acquiring an additional 114,828 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Global-e Online by 13.0% in the 4th quarter. CIBC Asset Management Inc now owns 10,645 shares of the company's stock valued at $580,000 after acquiring an additional 1,225 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLBE has been the subject of a number of research analyst reports. 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. The Goldman Sachs Group dropped their price objective on Global-e Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. JMP Securities reissued a "market outperform" rating and issued a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Benchmark dropped their price target on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Wells Fargo & Company reduced 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. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.00.

Global-e Online Price Performance

Shares of NASDAQ:GLBE traded down $0.27 during midday trading on Friday, hitting $31.21. The company had a trading volume of 522,923 shares, compared to its average volume of 2,005,025. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The company has a fifty day moving average of $33.94 and a two-hundred day moving average of $43.79. The company has a market cap of $5.30 billion, a price-to-earnings ratio of -86.51, a PEG ratio of 1.87 and a beta of 1.26.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $187.84 million. During the same quarter in the prior year, the business posted ($0.19) earnings per share. The business's quarterly revenue was up 30.2% on a year-over-year basis. Research analysts expect that Global-e Online Ltd. will post 0.25 earnings per share 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.