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

Kayne Anderson Rudnick Investment Management LLC cut its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,519,546 shares of the company’s stock after selling 68,898 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.93% of Global-E Online worth $82,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the period. Daiwa Securities Group Inc. raised its stake in Global-E Online by 2.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after purchasing an additional 200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Global-E Online by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after purchasing an additional 260 shares during the last quarter. Juncture Wealth Strategies LLC grew its stake in shares of Global-E Online by 3.9% in the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after buying an additional 494 shares during the period. Finally, Clay Northam Wealth Management LLC increased its holdings in shares of Global-E Online by 3.0% during the 4th quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock worth $1,256,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GLBE. KeyCorp increased their target price on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. The Goldman Sachs Group decreased their price target on Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Piper Sandler boosted their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. UBS Group lowered their target price 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. Finally, Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $57.00.

Global-E Online Price Performance

Shares of NASDAQ GLBE opened at $32.44 on Monday. The business has a 50-day moving average of $39.80 and a two-hundred day moving average of $46.09. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of -73.73, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 earnings per share. As a group, equities research 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.