Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 72.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,343 shares of the company's stock after selling 36,830 shares during the quarter. New York State Common Retirement Fund's holdings in Global-E Online were worth $568,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in Global-E Online by 18.2% during the third quarter. Morgan Stanley now owns 15,827,478 shares of the company's stock worth $628,984,000 after purchasing an additional 2,438,737 shares during the last quarter. Invesco Ltd. increased its position 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 valued at $62,268,000 after acquiring an additional 1,041,746 shares during the last quarter. Wellington Management Group LLP raised its holdings in Global-E Online by 139.4% during the third quarter. Wellington Management Group LLP now owns 1,265,548 shares of the company's stock worth $50,293,000 after acquiring an additional 737,019 shares in the last quarter. Swiss National Bank acquired a new position in Global-E Online during the third quarter valued at approximately $11,613,000. Finally, Assenagon Asset Management S.A. acquired a new position in Global-E Online during the third quarter valued at approximately $8,729,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Down 1.0 %

Shares of GLBE traded down $0.30 during midday trading on Wednesday, reaching $29.51. 1,416,778 shares of the stock were exchanged, compared to its average volume of 1,120,205. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $45.72. The stock's 50 day simple moving average is $34.00 and its 200 day simple moving average is $35.93.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Piper Sandler reissued an "overweight" rating and issued a $50.00 price objective on shares of Global-E Online in a report on Thursday, February 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $48.00 price target on shares of Global-E Online in a research note on Friday, April 5th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $40.00 price objective on shares of Global-E Online in a research note on Monday, April 1st. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.