Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 38.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,768 shares of the company’s stock after selling 19,193 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Global-E Online were worth $1,678,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fifth Third Bancorp increased its position in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Global-E Online by 4.4% during the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after acquiring an additional 393 shares during the last quarter. Juncture Wealth Strategies LLC increased its position in shares of Global-E Online by 3.9% during the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock worth $718,000 after acquiring an additional 494 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Global-E Online by 6.8% during the third quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock worth $300,000 after acquiring an additional 500 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Global-E Online by 1.6% during the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after acquiring an additional 508 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GLBE shares. UBS Group dropped their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group lifted their price target on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. JMP Securities lifted their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. Piper Sandler lifted their price target on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group lifted their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.58.

Global-E Online Stock Down 0.7 %

Shares of GLBE stock opened at $43.77 on Thursday. The business has a 50 day moving average of $55.76 and a two-hundred day moving average of $45.96. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $63.69. The company has a market cap of $7.19 billion, a P/E ratio of -99.48, a PEG ratio of 4.61 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 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 company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same period in the previous year, the firm posted $0.22 earnings per share. Global-E Online’s quarterly revenue was up 41.8% compared to the same quarter last year. Analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal 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.