Assenagon Asset Management S.A. Sells 33,478 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Assenagon Asset Management S.A. reduced its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 609,583 shares of the company's stock after selling 33,478 shares during the quarter. Assenagon Asset Management S.A. owned about 0.36% of Global-E Online worth $21,732,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Fred Alger Management LLC increased its position in shares of Global-E Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after acquiring an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC boosted its position in shares of Global-E Online by 9.1% in the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock worth $144,336,000 after buying an additional 220,519 shares during the period. Clearbridge Investments LLC grew its holdings 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 buying an additional 34,391 shares in the last quarter. Spyglass Capital Management LLC raised its position in Global-E Online by 6.8% during the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock valued at $81,104,000 after buying an additional 94,664 shares during the period. Finally, American Century Companies Inc. boosted its position in Global-E Online by 9.1% during the 4th quarter. American Century Companies Inc. now owns 1,209,833 shares of the company's stock worth $65,972,000 after acquiring an additional 100,445 shares during the period. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-E Online Stock Performance

NASDAQ GLBE traded down $1.29 during trading hours on Friday, hitting $31.97. 1,385,807 shares of the company traded hands, compared to its average volume of 1,506,963. The business's 50-day moving average is $34.11 and its 200-day moving average is $44.50. Global-E Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of -72.66, a P/E/G ratio of 4.61 and a beta of 1.26.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online's revenue was up 30.2% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. Analysts predict that Global-E Online Ltd. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on GLBE. UBS Group decreased their price target on 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. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Truist Financial began coverage on Global-E Online in a report on Monday, June 2nd. They set a "sell" rating and a $31.00 price objective on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $42.00 price objective on shares of Global-E Online in a research note on Wednesday, May 14th. Finally, Benchmark cut their target price 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. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $48.00.

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.