Temasek Holdings Private Ltd Cuts Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Temasek Holdings Private Ltd trimmed its stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,656,452 shares of the company's stock after selling 835,245 shares during the quarter. Temasek Holdings Private Ltd owned approximately 1.62% of Global-E Online worth $144,856,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

GLBE has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Global-E Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. KeyCorp decreased their price objective on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. JMP Securities reaffirmed a "market outperform" rating and issued a $64.00 target price on shares of Global-E Online in a research note on Thursday, May 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $40.00 target price on shares of Global-E Online in a research note on Thursday, May 15th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $49.42.

Global-E Online Trading Down 4.1%

GLBE traded down $1.35 during trading on Wednesday, reaching $31.34. 1,238,967 shares of the company's stock were exchanged, compared to its average volume of 1,420,339. The firm has a fifty day moving average price of $35.16 and a two-hundred day moving average price of $45.71. The stock has a market capitalization of $5.32 billion, a PE ratio of -71.23, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69.

Global-E Online (NASDAQ:GLBE - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $189.88 million during the quarter, compared to analyst estimates of $187.84 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. Global-E Online's quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.19) earnings per share. Sell-side analysts expect that Global-E Online Ltd. will post 0.25 earnings per share 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.