Nissay Asset Management Corp Japan ADV Sells 411 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Nissay Asset Management Corp Japan ADV decreased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,437 shares of the company’s stock after selling 411 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Global-E Online were worth $684,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GLBE. Fred Alger Management LLC boosted its stake in Global-E Online by 204.6% during the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock valued at $231,178,000 after purchasing an additional 2,847,868 shares during the period. Lord Abbett & CO. LLC bought a new stake in Global-E Online during the 4th quarter valued at approximately $40,146,000. Norges Bank bought a new stake in Global-E Online during the 4th quarter valued at approximately $38,875,000. SG Americas Securities LLC boosted its stake in Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after purchasing an additional 625,855 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Global-E Online in the 4th quarter valued at approximately $27,231,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Down 0.2%

NASDAQ:GLBE opened at $33.04 on Monday. Global-E Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The firm has a market capitalization of $5.59 billion, a P/E ratio of -75.09, a P/E/G ratio of 4.61 and a beta of 1.36. The stock’s fifty day simple moving average is $35.34 and its 200-day simple moving average is $45.84.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping 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 business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same period last year, the company earned ($0.19) EPS. The firm’s 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 year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Global-E Online in a report on Wednesday, May 14th. UBS Group cut their price target 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Global-E Online in a report on Thursday. Wells Fargo & Company cut their price target on Global-E Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Raymond James cut their price target on Global-E Online from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $49.42.

Global-E Online Profile

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.