TimesSquare Capital Management LLC Has $19.90 Million Stock Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

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

A number of other hedge funds have also modified their holdings of the business. Fred Alger Management LLC boosted its holdings in shares of Global-e Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after purchasing an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC boosted its stake in shares of Global-e Online by 9.1% during the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock valued at $144,336,000 after buying an additional 220,519 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Global-e Online by 1.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock worth $123,708,000 after purchasing an additional 34,391 shares during the last quarter. Spyglass Capital Management LLC grew its position in shares of Global-e Online by 6.8% during the 4th quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock valued at $81,104,000 after buying an additional 94,664 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Global-e Online by 9.1% during the 4th quarter. American Century Companies Inc. now owns 1,209,833 shares of the company's stock valued at $65,972,000 after purchasing an additional 100,445 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Stock Down 3.2%

Shares of Global-e Online stock traded down $1.06 during trading hours on Tuesday, hitting $32.19. 1,613,937 shares of the company's stock traded hands, compared to its average volume of 1,550,827. The company has a market cap of $5.46 billion, a PE ratio of -89.42, a PEG ratio of 1.96 and a beta of 1.25. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69. The stock has a 50 day simple moving average of $33.41 and a 200-day simple moving average of $41.03.

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 the consensus estimate of ($0.13) by $0.02. The business had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The business's revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) earnings per share. As a group, equities research analysts predict that Global-e Online Ltd. will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial assumed coverage on shares of Global-e Online in a research report on Monday, June 2nd. They issued a "sell" rating and a $31.00 price target for the company. JMP Securities restated a "market outperform" rating and issued a $64.00 price target on shares of Global-e Online in a research report on Thursday, May 15th. Wells Fargo & Company reduced their price target 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. Needham & Company LLC restated a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a research report on Thursday, May 15th. Finally, Raymond James Financial reduced their price target 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. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.00.

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.