Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Abdiel Capital Advisors LP

Abdiel Capital Advisors LP trimmed its position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 33.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,915,413 shares of the company's stock after selling 2,012,082 shares during the period. Global-E Online makes up approximately 13.2% of Abdiel Capital Advisors LP's holdings, making the stock its 3rd biggest holding. Abdiel Capital Advisors LP owned 2.38% of Global-E Online worth $213,507,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GLBE. Northern Trust Corp boosted its position in shares of Global-E Online by 51.4% during the fourth quarter. Northern Trust Corp now owns 441,795 shares of the company's stock worth $24,091,000 after purchasing an additional 149,958 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Global-E Online by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock worth $1,991,000 after buying an additional 630 shares during the period. Tudor Investment Corp ET AL bought a new position in Global-E Online during the fourth quarter worth about $270,000. NZS Capital LLC increased its holdings in shares of Global-E Online by 214.8% in the fourth quarter. NZS Capital LLC now owns 438,263 shares of the company's stock worth $23,898,000 after acquiring an additional 299,062 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Global-E Online in the fourth quarter worth about $40,146,000. Institutional investors own 94.60% of the company's stock.

Analyst Ratings Changes

GLBE has been the subject of several research analyst reports. UBS Group decreased their price objective on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research report on Friday, February 21st. KeyCorp cut their price target on shares of 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. Morgan Stanley upgraded shares of Global-E Online from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Piper Sandler cut their price objective on shares of Global-E Online from $62.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Benchmark lowered their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $51.33.

Global-E Online Stock Up 0.6 %

Shares of NASDAQ:GLBE traded up $0.20 during midday trading on Thursday, reaching $36.11. The company had a trading volume of 1,053,234 shares, compared to its average volume of 1,404,621. The business's 50 day moving average price is $36.30 and its 200 day moving average price is $45.86. Global-E Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The stock has a market cap of $6.11 billion, a PE ratio of -82.07, a P/E/G ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to analysts' expectations of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business's revenue was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. On average, 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.