Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lessened its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,519,546 shares of the company's stock after selling 68,898 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.93% of Global-E Online worth $82,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its position in shares of Global-E Online by 83.2% during the third quarter. Barclays PLC now owns 29,636 shares of the company's stock worth $1,139,000 after purchasing an additional 13,463 shares in the last quarter. Geode Capital Management LLC grew its stake in Global-E Online by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 933,476 shares of the company's stock worth $35,722,000 after buying an additional 30,995 shares during the last quarter. Tidal Investments LLC raised its stake in Global-E Online by 4.6% in the third quarter. Tidal Investments LLC now owns 70,792 shares of the company's stock valued at $2,721,000 after buying an additional 3,129 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Global-E Online in the third quarter worth about $223,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock worth $70,979,000 after acquiring an additional 533,675 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on GLBE shares. Needham & Company LLC decreased their price objective on shares of Global-E Online from $64.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. The Goldman Sachs Group dropped their price objective on shares of Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company cut their target price on Global-E Online from $60.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, KeyCorp lowered their price target on Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online currently has a consensus rating of "Buy" and an average price target of $51.33.

Global-E Online Stock Down 0.3 %

Shares of GLBE traded down $0.11 during mid-day trading on Friday, reaching $36.22. The company had a trading volume of 935,692 shares, compared to its average volume of 1,401,468. The stock has a market capitalization of $6.13 billion, a P/E ratio of -82.32, a PEG ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69. The stock has a 50 day moving average of $37.00 and a two-hundred day moving average of $45.89.

Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $262.91 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. On average, sell-side analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

About Global-E Online

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.