Millennium Management LLC Decreases Position in Global-E Online Ltd. (NASDAQ:GLBE)

Millennium Management LLC reduced its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 82.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 408,335 shares of the company's stock after selling 1,859,567 shares during the quarter. Millennium Management LLC owned 0.25% of Global-E Online worth $22,267,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GLBE. Fifth Third Bancorp lifted its holdings in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after buying an additional 197 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after acquiring an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Global-E Online in the fourth quarter worth about $59,000. Whipplewood Advisors LLC purchased a new position in Global-E Online in the fourth quarter valued at about $65,000. Finally, SBI Securities Co. Ltd. purchased a new position in Global-E Online in the fourth quarter valued at about $99,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on GLBE shares. UBS Group reduced their price objective on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company reduced their price target on shares of Global-E Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Raymond James lowered their price objective on Global-E Online from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. The Goldman Sachs Group cut their price objective on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price target on shares of Global-E Online in a report on Thursday, May 15th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online has a consensus rating of "Buy" and an average price target of $49.42.

Global-E Online Trading Up 0.0%

NASDAQ GLBE opened at $32.69 on Wednesday. Global-E Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69. The company has a fifty day simple moving average of $35.16 and a 200 day simple moving average of $45.71. The company has a market cap of $5.55 billion, a P/E ratio of -74.30, a P/E/G ratio of 4.61 and a beta of 1.36.

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 8.56% and a negative net margin of 10.04%. The company had revenue of $189.88 million during the quarter, compared to analyst estimates of $187.84 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The company's quarterly revenue was up 30.2% compared to the same quarter last year. Equities research analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current fiscal 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.

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