Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 5.2% during the first quarter, HoldingsChannel.com reports. The firm owned 609,583 shares of the company’s stock after selling 33,478 shares during the period. Assenagon Asset Management S.A.’s holdings in Global-E Online were worth $21,732,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GLBE. Arcadia Investment Management Corp MI acquired a new stake in shares of Global-E Online in the 4th quarter valued at about $59,000. Whipplewood Advisors LLC acquired a new stake in shares of Global-E Online in the 4th quarter valued at about $65,000. SBI Securities Co. Ltd. acquired a new stake in shares of Global-E Online in the 4th quarter valued at about $99,000. First Horizon Advisors Inc. raised its stake in shares of Global-E Online by 388.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,014 shares of the company’s stock valued at $110,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Global-E Online by 696.1% in the 4th quarter. Blue Trust Inc. now owns 2,030 shares of the company’s stock valued at $111,000 after purchasing an additional 1,775 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Trading Down 1.8%

NASDAQ GLBE opened at $33.26 on Friday. Global-E Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of -75.59, a price-to-earnings-growth ratio of 4.61 and a beta of 1.26. The company has a 50-day moving average price of $34.11 and a two-hundred day moving average price of $44.50.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm had revenue of $189.88 million during the quarter, compared to analysts’ expectations of $187.84 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. Global-E Online’s quarterly revenue was up 30.2% on a year-over-year basis. As a group, equities research analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GLBE shares. UBS Group cut their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group dropped their price objective on shares of 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. Wells Fargo & Company dropped their price objective on shares of Global-E Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Truist Financial initiated coverage on shares of Global-E Online in a research note on Monday, June 2nd. They set a “sell” rating and a $31.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $42.00 price objective on shares of Global-E Online in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Global-E Online presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

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.