Handelsbanken Fonder AB Decreases Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Handelsbanken Fonder AB reduced its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 45.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,140 shares of the company's stock after selling 33,685 shares during the quarter. Handelsbanken Fonder AB's holdings in Global-E Online were worth $1,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GLBE. Morgan Stanley raised its holdings in Global-E Online by 18.2% in the 3rd quarter. Morgan Stanley now owns 15,827,478 shares of the company's stock worth $628,984,000 after acquiring an additional 2,438,737 shares during the last quarter. Invesco Ltd. raised its stake in shares of Global-E Online by 198.4% in the third quarter. Invesco Ltd. now owns 1,566,885 shares of the company's stock worth $62,268,000 after purchasing an additional 1,041,746 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Global-E Online by 139.4% in the third quarter. Wellington Management Group LLP now owns 1,265,548 shares of the company's stock worth $50,293,000 after purchasing an additional 737,019 shares during the last quarter. Swiss National Bank bought a new position in shares of Global-E Online during the third quarter valued at $11,613,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Global-E Online by 14.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company's stock valued at $86,871,000 after buying an additional 280,936 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

Global-E Online Stock Up 2.4 %

GLBE traded up $0.80 during midday trading on Friday, reaching $33.61. The company had a trading volume of 696,946 shares, compared to its average volume of 1,026,738. Global-E Online Ltd. has a 1 year low of $26.01 and a 1 year high of $45.72. The company has a market cap of $5.52 billion, a P/E ratio of -41.49 and a beta of 1.10. The business has a 50-day moving average of $34.74 and a two-hundred day moving average of $36.21.

Global-E Online (NASDAQ:GLBE - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The firm had revenue of $185.40 million during the quarter, compared to analysts' expectations of $181.74 million. During the same period in the prior year, the company posted ($0.18) earnings per share. The company's revenue was up 32.5% compared to the same quarter last year. On average, equities research analysts predict that Global-E Online Ltd. will post -0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler reissued an "overweight" rating and issued a $50.00 target price on shares of Global-E Online in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their price objective on shares of Global-E Online from $36.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, January 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $48.00 price objective on shares of Global-E Online in a report on Friday, April 5th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $40.00 price objective on shares of Global-E Online in a research report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Global-E Online currently has an average rating of "Moderate Buy" and an average target price of $43.00.

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.