Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,519,546 shares of the company’s stock after selling 68,898 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Global-E Online were worth $82,861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fifth Third Bancorp lifted its position in Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the period. Geneos Wealth Management Inc. grew its position in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after buying an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Global-E Online in the 4th quarter valued at $59,000. Whipplewood Advisors LLC purchased a new position in Global-E Online during the 4th quarter worth $65,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Global-E Online in the 4th quarter worth $99,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GLBE shares. Piper Sandler increased their price target on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Morgan Stanley upgraded 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. Needham & Company LLC restated a “buy” rating and set a $64.00 target price on shares of Global-E Online in a research report on Wednesday, March 12th. Finally, Benchmark reduced their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online currently has a consensus rating of “Buy” and an average price target of $57.00.

Global-E Online Stock Up 1.4 %

GLBE opened at $32.44 on Monday. The firm has a market cap of $5.49 billion, a P/E ratio of -73.73, a PEG ratio of 4.61 and a beta of 1.36. The business’s fifty day simple moving average is $39.80 and its 200 day simple moving average is $46.09. Global-E Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 41.8% compared to the same quarter last year. As a group, equities analysts expect 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.