Assenagon Asset Management S.A. Sells 203,778 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Assenagon Asset Management S.A. decreased its position in Global-E Online Ltd. (NASDAQ:GLBE) by 24.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 643,316 shares of the company’s stock after selling 203,778 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Global-E Online were worth $24,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. grew its position in Global-E Online by 10.0% in the 1st quarter. Sei Investments Co. now owns 262,603 shares of the company’s stock worth $9,546,000 after purchasing an additional 23,823 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Global-E Online in the 1st quarter worth approximately $2,521,000. Capital International Investors grew its holdings in shares of Global-E Online by 51.2% in the first quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock valued at $36,467,000 after acquiring an additional 339,591 shares in the last quarter. Dragoneer Investment Group LLC increased its position in shares of Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Global-E Online during the second quarter worth $623,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Price Performance

Shares of GLBE stock opened at $37.95 on Friday. Global-E Online Ltd. has a 1 year low of $27.30 and a 1 year high of $42.88. The company’s fifty day simple moving average is $36.47 and its two-hundred day simple moving average is $34.16. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of -51.28 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The business 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 quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) EPS. Equities research analysts anticipate that Global-E Online Ltd. will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GLBE shares. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Thursday, August 15th. UBS Group reduced their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price objective on shares of Global-E Online in a research report on Wednesday, July 10th. Piper Sandler reissued a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. Finally, KeyCorp decreased their price target 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. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.09.

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.