Mitsubishi UFJ Asset Management Co. Ltd. Sells 13,300 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 15.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,800 shares of the company's stock after selling 13,300 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Global-e Online were worth $2,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Voya Investment Management LLC grew its position in shares of Global-e Online by 1.3% in the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company's stock valued at $930,000 after purchasing an additional 227 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Global-e Online by 7.1% during the fourth quarter. Mackenzie Financial Corp now owns 6,740 shares of the company's stock valued at $368,000 after buying an additional 448 shares during the period. Pacer Advisors Inc. boosted its stake in Global-e Online by 52.9% during the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock valued at $50,000 after buying an additional 488 shares during the period. Yousif Capital Management LLC lifted its stake in Global-e Online by 10.7% during the first quarter. Yousif Capital Management LLC now owns 6,054 shares of the company's stock worth $216,000 after purchasing an additional 584 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Global-e Online by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock valued at $1,991,000 after buying an additional 630 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Price Performance

NASDAQ:GLBE traded up $0.21 during mid-day trading on Friday, reaching $30.81. 2,201,110 shares of the company's stock traded hands, compared to its average volume of 1,796,092. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of -181.24, a PEG ratio of 1.72 and a beta of 1.24. The company has a 50 day moving average price of $33.02 and a 200-day moving average price of $37.44.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.04. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%. The firm had revenue of $214.88 million for the quarter, compared to the consensus estimate of $207.95 million. During the same quarter in the prior year, the business earned ($0.13) EPS. The business's revenue for the quarter was up 27.9% on a year-over-year basis. As a group, analysts forecast that Global-e Online Ltd. will post 0.25 EPS for the current year.

Analyst Ratings Changes

GLBE has been the topic of a number of research reports. JMP Securities reissued a "market outperform" rating and set a $64.00 price objective on shares of Global-e Online in a report on Thursday, May 15th. Piper Sandler reissued an "overweight" rating and set a $42.00 price objective on shares of Global-e Online in a report on Wednesday, May 14th. Truist Financial raised their price objective on Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a report on Thursday, July 17th. Benchmark decreased 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. Finally, Zacks Research raised Global-e Online to a "hold" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.33.

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.