Man Group plc trimmed its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 33.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 839,441 shares of the company's stock after selling 417,648 shares during the quarter. Man Group plc owned 0.51% of Global-E Online worth $45,775,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of GLBE. Fred Alger Management LLC lifted its position in shares of Global-E Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after purchasing an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC lifted its position 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. Clearbridge Investments LLC lifted its position in shares of Global-E Online by 1.5% during the fourth 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. American Century Companies Inc. lifted its position in shares of Global-E Online by 9.1% during the fourth quarter. American Century Companies Inc. now owns 1,209,833 shares of the company's stock worth $65,972,000 after purchasing an additional 100,445 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Global-E Online by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 972,025 shares of the company's stock worth $52,809,000 after purchasing an additional 38,549 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
GLBE has been the subject of several recent research reports. Morgan Stanley upgraded Global-E Online from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. Piper Sandler restated an "overweight" rating and issued a $42.00 price objective on shares of Global-E Online in a report on Wednesday. Raymond James decreased their price objective on Global-E Online from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday. Benchmark decreased their price objective on Global-E Online from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, 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 report on Friday, February 21st. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $49.42.
Check Out Our Latest Analysis on Global-E Online
Global-E Online Price Performance
Global-E Online stock traded down $0.07 during trading hours on Friday, reaching $33.04. The stock had a trading volume of 1,647,543 shares, compared to its average volume of 1,435,774. The company has a market cap of $5.59 billion, a price-to-earnings ratio of -75.09, a PEG ratio of 4.61 and a beta of 1.36. The business's 50 day moving average price is $35.34 and its 200-day moving average price is $45.79. Global-E Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69.
Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates 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 net margin of 10.04% and a negative return on equity of 8.56%. The firm's revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) earnings per share. On average, sell-side analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.
Global-E Online Profile
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Free Report)
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.
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