Millennium Management LLC Has $47.98 Million Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Millennium Management LLC decreased its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 19.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,322,954 shares of the company’s stock after selling 314,437 shares during the quarter. Millennium Management LLC owned 0.81% of Global-E Online worth $47,984,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GLBE. Capital World Investors lifted its holdings in shares of Global-E Online by 581.5% during the 4th quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock worth $123,072,000 after acquiring an additional 2,649,873 shares during the period. Brown Capital Management LLC bought a new stake in Global-E Online during the first quarter worth $69,352,000. Contour Asset Management LLC acquired a new stake in shares of Global-E Online in the 4th quarter valued at $57,816,000. Dragoneer Investment Group LLC increased its stake in shares of Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in shares of Global-E Online during the 2nd quarter worth $36,182,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLBE has been the topic of several research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Global-E Online in a research note on Monday, July 1st. KeyCorp decreased their price target on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Bank of America dropped 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. Piper Sandler decreased their target price on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research note on Thursday, August 15th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $42.82.

Global-E Online Stock Up 1.0 %

NASDAQ GLBE opened at $38.44 on Tuesday. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of -51.95 and a beta of 1.09. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $42.88. The stock has a fifty day simple moving average of $34.87 and a 200 day simple moving average of $33.89.

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

Global-E Online 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.