Snowden Capital Advisors LLC Reduces Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Snowden Capital Advisors LLC trimmed its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 20.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,475 shares of the company's stock after selling 7,575 shares during the period. Snowden Capital Advisors LLC's holdings in Global-E Online were worth $1,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLBE. Fred Alger Management LLC lifted its stake in 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 valued at $231,178,000 after buying an additional 2,847,868 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Global-E Online in the 4th quarter valued at approximately $40,146,000. Norges Bank bought a new stake in Global-E Online during the fourth quarter worth $38,875,000. SG Americas Securities LLC increased its stake in shares of Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock worth $34,703,000 after purchasing an additional 625,855 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Global-E Online during the fourth quarter worth approximately $27,231,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Trading Down 0.8%

Shares of NASDAQ:GLBE traded down $0.26 during mid-day trading on Friday, reaching $31.85. The company had a trading volume of 540,289 shares, compared to its average volume of 1,420,143. The company's 50-day moving average price is $34.96 and its 200-day moving average price is $45.57. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of -72.14, a PEG ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm 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%. The company's revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share. On average, research analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLBE has been the subject of several recent research reports. KeyCorp decreased their price objective on Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Benchmark lowered their price objective on Global-E Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their target price on shares of Global-E Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Raymond James cut their target price on Global-E Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Finally, UBS Group decreased their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online currently has a consensus rating of "Buy" and an average price target of $49.42.

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.