Global-e Online Ltd. (NASDAQ:GLBE) Stock Position Decreased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 27.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 558,100 shares of the company's stock after selling 212,899 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.33% of Global-e Online worth $19,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its stake in Global-e Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company's stock valued at $436,000 after purchasing an additional 200 shares during the last quarter. Voya Investment Management LLC increased its stake in 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 during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Global-e Online by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company's stock valued at $908,000 after purchasing an additional 260 shares during the last quarter. Mackenzie Financial Corp increased its stake in Global-e Online by 7.1% in the fourth quarter. Mackenzie Financial Corp now owns 6,740 shares of the company's stock valued at $368,000 after purchasing an additional 448 shares during the last quarter. Finally, Yousif Capital Management LLC increased 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 acquiring an additional 584 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on GLBE. Benchmark dropped their price target on 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. Morgan Stanley upgraded Global-e Online from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. Wells Fargo & Company lowered their target price on Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Truist Financial increased their target price on Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday. Finally, JMP Securities reiterated 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. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $48.08.

Global-e Online Trading Down 0.6%

GLBE traded down $0.19 during trading hours on Friday, hitting $33.39. The company's stock had a trading volume of 1,965,993 shares, compared to its average volume of 1,558,818. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The firm has a market capitalization of $5.67 billion, a PE ratio of -92.98, a PEG ratio of 1.98 and a beta of 1.25. The company has a 50-day simple moving average of $33.17 and a 200 day simple moving average of $40.77.

Global-e Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly 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. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The company had revenue of $189.88 million for the quarter, compared to analysts' expectations of $187.84 million. During the same period last year, the firm earned ($0.19) EPS. The firm's revenue for the quarter was up 30.2% on a year-over-year basis. Research analysts expect that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

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.