Temasek Holdings Private Ltd Sells 835,245 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Temasek Holdings Private Ltd reduced its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 23.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,656,452 shares of the company’s stock after selling 835,245 shares during the period. Temasek Holdings Private Ltd’s holdings in Global-E Online were worth $144,856,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GLBE. Fifth Third Bancorp increased its stake in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. Geneos Wealth Management Inc. increased its position in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after purchasing an additional 748 shares during the period. Arcadia Investment Management Corp MI bought a new position in Global-E Online during the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC acquired a new position in shares of Global-E Online in the 4th quarter worth approximately $65,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Global-E Online in the 4th quarter worth approximately $99,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Price Performance

Shares of Global-E Online stock opened at $33.04 on Friday. The business has a 50-day simple moving average of $35.34 and a 200 day simple moving average of $45.79. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of -75.09, a PEG ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. On average, sell-side analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

GLBE has been the subject of a number of analyst reports. JMP Securities reissued a “market outperform” rating and set a $64.00 target price on shares of Global-E Online in a research note on Thursday. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Wells Fargo & Company cut their target price on Global-E Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Global-E Online in a research note on Thursday. Finally, The Goldman Sachs Group dropped 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. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online has an average rating of “Buy” and an average target price of $49.42.

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.