Envestnet Asset Management Inc. Has $1.87 Million Stock Position in Global-e Online Ltd. (NASDAQ:GLBE)

Envestnet Asset Management Inc. decreased its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,347 shares of the company's stock after selling 9,206 shares during the period. Envestnet Asset Management Inc.'s holdings in Global-e Online were worth $1,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Siemens Fonds Invest GmbH acquired a new stake in shares of Global-e Online during the 4th quarter worth about $124,000. State of Tennessee Department of Treasury purchased a new stake in shares of Global-e Online during the 4th quarter valued at $199,000. TD Waterhouse Canada Inc. grew its position in Global-e Online by 52.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,745 shares of the company's stock valued at $204,000 after acquiring an additional 1,287 shares during the period. Cetera Investment Advisers acquired a new stake in Global-e Online during the fourth quarter worth about $230,000. Finally, Bridgefront Capital LLC purchased a new position in shares of Global-e Online in the 4th quarter worth about $232,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GLBE shares. Raymond James Financial dropped their target price 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. Piper Sandler restated an "overweight" rating and issued a $42.00 target price on shares of Global-e Online in a research note on Wednesday, May 14th. JMP Securities reaffirmed a "market outperform" rating and set a $64.00 price target on shares of Global-e Online in a research note on Thursday, May 15th. Benchmark decreased their price objective on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Needham & Company LLC restated a "buy" rating and set a $40.00 target price on shares of Global-e Online in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.08.

Global-e Online Stock Performance

Shares of NASDAQ GLBE traded down $1.73 during mid-day trading on Friday, reaching $31.42. The company had a trading volume of 1,612,930 shares, compared to its average volume of 1,236,561. The stock has a market capitalization of $5.33 billion, a PE ratio of -87.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69. The stock's 50 day moving average is $32.97 and its 200-day moving average is $39.15.

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