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

Main Management ETF Advisors LLC decreased its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,856 shares of the company’s stock after selling 4,032 shares during the period. 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.

Other large investors also recently bought and sold shares of the company. Fred Alger Management LLC raised its position in shares of Global-E Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after buying an additional 2,847,868 shares during the period. Contour Asset Management LLC raised its holdings in shares of Global-E Online by 9.1% in the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock worth $144,336,000 after purchasing an additional 220,519 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Global-E Online by 1.5% in 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 in the last quarter. American Century Companies Inc. grew its holdings in shares of Global-E Online by 9.1% during the 4th quarter. American Century Companies Inc. now owns 1,209,833 shares of the company’s stock worth $65,972,000 after purchasing an additional 100,445 shares during the period. Finally, Geode Capital Management LLC increased its position in Global-E Online by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 972,025 shares of the company’s stock worth $52,809,000 after purchasing an additional 38,549 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GLBE. 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 for the company in a research report on Wednesday, April 2nd. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. Benchmark decreased their target price on Global-E Online from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday. Piper Sandler decreased their price target on shares of Global-E Online from $62.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Needham & Company LLC dropped their price objective on shares of Global-E Online from $64.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. 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 target price of $50.58.

Global-E Online Stock Up 2.2%

GLBE stock opened at $42.39 on Wednesday. The stock has a market cap of $7.17 billion, a PE ratio of -96.34, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The firm’s 50-day simple moving average is $35.59 and its 200 day simple moving average is $45.90. Global-E Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. During the same quarter last year, the business earned $0.22 earnings per share. Global-E Online’s revenue was up 41.8% compared to the same quarter last year. Equities analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current fiscal 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.