Commonwealth Equity Services LLC Has $226,000 Position in Global-E Online Ltd. (NASDAQ:GLBE)

Commonwealth Equity Services LLC trimmed its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 67.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,225 shares of the company’s stock after selling 12,827 shares during the period. Commonwealth Equity Services LLC’s holdings in Global-E Online were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. RiverPark Advisors LLC grew its position in shares of Global-E Online by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock valued at $133,000 after acquiring an additional 2,858 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in shares of Global-E Online during the 4th quarter worth approximately $141,000. DekaBank Deutsche Girozentrale raised its stake in Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares during the period. Russell Investments Group Ltd. boosted its position in Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after purchasing an additional 780 shares during the period. Finally, Avitas Wealth Management LLC bought a new position in shares of Global-E Online in the second quarter valued at about $224,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 target price on shares of Global-E Online in a research report on Monday, July 1st. Piper Sandler dropped their price objective on Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Bank of America cut their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Thursday, August 15th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $42.82.

Global-E Online Stock Down 2.0 %

GLBE stock opened at $37.34 on Thursday. The firm has a market capitalization of $6.13 billion, a PE ratio of -50.46 and a beta of 1.09. The stock’s 50 day moving average is $34.69 and its 200-day moving average is $33.82. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $42.88.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $168.00 million for the quarter, compared to the consensus estimate 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 company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.22) EPS. On average, equities research analysts anticipate that Global-E Online Ltd. will post -0.5 earnings per share for the current fiscal year.

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.