Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 19.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,889 shares of the company’s stock after selling 9,294 shares during the period. Raymond James & Associates’ holdings in Global-E Online were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GLBE. Global Retirement Partners LLC raised its holdings in shares of Global-E Online by 31.2% during the first quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock valued at $60,000 after buying an additional 392 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of Global-E Online by 360.9% during the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock valued at $133,000 after buying an additional 2,858 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Global-E Online during the fourth quarter valued at approximately $141,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after buying an additional 624 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after buying an additional 780 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

NASDAQ GLBE opened at $33.40 on Thursday. The stock has a market capitalization of $5.49 billion, a P/E ratio of -45.14 and a beta of 1.10. Global-E Online Ltd. has a 1 year low of $27.30 and a 1 year high of $42.88. The business’s fifty day moving average is $34.65 and its two-hundred day moving average is $33.59.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $165.95 million. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) earnings per share. On average, research analysts forecast that Global-E Online Ltd. will post -0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GLBE. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-E Online in a report on Thursday, August 15th. The Goldman Sachs Group reissued a “buy” rating and set a $43.00 target price on shares of Global-E Online in a report on Monday, July 1st. Morgan Stanley boosted their target price on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. KeyCorp dropped their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of Global-E Online in a report on Wednesday, July 10th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online has an average rating of “Buy” and a consensus price target of $42.82.

Global-E Online Company 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.