Marshall Wace LLP Trims Position in Global-E Online Ltd. (NASDAQ:GLBE)

Marshall Wace LLP cut its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 37.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 313,689 shares of the company’s stock after selling 191,353 shares during the period. Marshall Wace LLP’s holdings in Global-E Online were worth $11,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new position in Global-E Online during the 4th quarter valued at about $141,000. RiverPark Advisors LLC raised its stake in Global-E Online by 360.9% in the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after buying an additional 2,858 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after buying an additional 624 shares during the period. Intech Investment Management LLC bought a new stake in Global-E Online during the 4th quarter valued at $233,000. Finally, Russell Investments Group Ltd. boosted its position in Global-E Online by 15.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after acquiring an additional 780 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Trading Up 1.0 %

NASDAQ:GLBE opened at $38.07 on Friday. The company has a market capitalization of $6.25 billion, a P/E ratio of -51.45 and a beta of 1.09. Global-E Online Ltd. has a 12 month low of $27.30 and a 12 month high of $42.88. The firm has a fifty day simple moving average of $34.82 and a 200-day simple moving average of $33.87.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $168.00 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.22) EPS. Equities analysts forecast that Global-E Online Ltd. will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLBE. JMP Securities restated a “market outperform” rating and set a $46.00 price objective on shares of Global-E Online in a research note on Wednesday, July 10th. Piper Sandler lowered their price target on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Bank of America reduced 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 note on Thursday, August 15th. KeyCorp lowered their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Global-E Online in a research report on Monday, July 1st. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $42.82.

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.