Oppenheimer Asset Management Inc. Sells 8,951 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

Oppenheimer Asset Management Inc. decreased its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 24.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,029 shares of the company's stock after selling 8,951 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Global-e Online were worth $964,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Global-e Online during the fourth quarter worth $65,000. SBI Securities Co. Ltd. acquired a new stake in Global-e Online during the 4th quarter worth about $99,000. Siemens Fonds Invest GmbH purchased a new stake in Global-e Online during the fourth quarter valued at about $124,000. US Bancorp DE purchased a new stake in Global-e Online during the fourth quarter valued at about $157,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Global-e Online in the fourth quarter worth about $199,000. Institutional investors own 94.60% of the company's stock.

Global-e Online Stock Down 1.0%

Shares of GLBE traded down $0.35 during mid-day trading on Tuesday, hitting $33.19. 606,577 shares of the company's stock were exchanged, compared to its average volume of 1,526,066. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of -92.21, a P/E/G ratio of 1.95 and a beta of 1.26. The firm has a fifty day moving average of $33.91 and a two-hundred day moving average of $42.57. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69.

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

Wall Street Analyst Weigh In

GLBE has been the topic of a number of recent analyst reports. JMP Securities restated a "market outperform" rating and set a $64.00 price target on shares of Global-e Online in a report on Thursday, May 15th. KeyCorp lowered their target price on Global-e Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial began coverage on shares of Global-e Online in a research report on Monday, June 2nd. They set a "sell" rating and a $31.00 price objective on the stock. Raymond James Financial cut their target price on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Finally, Benchmark decreased their target price on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to MarketBeat, Global-e Online has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.

About Global-e Online

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.