Global-E Online Ltd. (NASDAQ:GLBE) is Dragoneer Investment Group LLC's Largest Position

Dragoneer Investment Group LLC reduced its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,993,659 shares of the company's stock after selling 3,302,882 shares during the period. Global-E Online comprises 11.4% of Dragoneer Investment Group LLC's investment portfolio, making the stock its largest holding. Dragoneer Investment Group LLC owned approximately 7.30% of Global-E Online worth $654,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Contour Asset Management LLC grew its holdings in shares of Global-E Online by 9.1% during the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock worth $144,336,000 after purchasing an additional 220,519 shares during the last quarter. Corton Capital Inc. bought a new stake in Global-E Online in the fourth quarter valued at approximately $253,000. Cresset Asset Management LLC boosted its holdings in Global-E Online by 1,554.0% in the fourth quarter. Cresset Asset Management LLC now owns 137,464 shares of the company's stock valued at $7,496,000 after acquiring an additional 129,153 shares during the last quarter. Caption Management LLC bought a new stake in Global-E Online in the fourth quarter valued at approximately $413,000. Finally, Cetera Investment Advisers bought a new stake in Global-E Online in the fourth quarter valued at approximately $230,000. 94.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Benchmark reduced their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. UBS Group dropped their price target on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group lowered their target price on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, KeyCorp lowered their target price on Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $51.33.

Global-E Online Stock Up 7.9%

Global-E Online stock traded up $2.99 during midday trading on Monday, reaching $40.82. The stock had a trading volume of 1,527,870 shares, compared to its average volume of 1,393,758. Global-E Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The firm's 50-day moving average price is $35.51 and its 200 day moving average price is $45.90. The firm has a market capitalization of $6.90 billion, a PE ratio of -93.11, 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, beating analysts' consensus estimates of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business had revenue of $262.91 million for the quarter, compared to analysts' expectations of $250.96 million. During the same period in the previous year, the business posted $0.22 EPS. The firm's quarterly revenue was up 41.8% compared to the same quarter last year. Equities research analysts expect that Global-E Online Ltd. will post 0.25 EPS 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.