Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC reduced its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 8.2% in the fourth quarter, HoldingsChannel reports. The fund owned 44,856 shares of the company’s stock after selling 4,032 shares during the quarter. Main Management ETF Advisors LLC’s holdings in Global-E Online were worth $2,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GLBE. Fred Alger Management LLC raised its holdings in Global-E Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after purchasing an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC increased its position in shares of Global-E Online by 9.1% during the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock valued at $144,336,000 after purchasing an additional 220,519 shares during the period. Clearbridge Investments LLC increased its position in shares of Global-E Online by 1.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock valued at $123,708,000 after purchasing an additional 34,391 shares during the period. American Century Companies Inc. raised its stake in shares of Global-E Online by 9.1% in the 4th quarter. American Century Companies Inc. now owns 1,209,833 shares of the company’s stock worth $65,972,000 after buying an additional 100,445 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Global-E Online by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 972,025 shares of the company’s stock valued at $52,809,000 after buying an additional 38,549 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GLBE has been the topic of a number of research analyst reports. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Piper Sandler dropped their target price on shares of Global-E Online from $62.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group reduced their target price on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company cut their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Finally, UBS Group decreased their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $50.58.

Global-E Online Stock Up 2.2%

Shares of NASDAQ:GLBE opened at $42.39 on Wednesday. The company’s fifty day moving average is $35.59 and its two-hundred day moving average is $45.90. The company has a market cap of $7.17 billion, a P/E ratio of -96.34, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $262.91 million for 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%. Global-E Online’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities research analysts anticipate 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.