Global-E Online Ltd. (NASDAQ:GLBE) Stock Position Decreased by ARK Investment Management LLC

ARK Investment Management LLC cut its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,465 shares of the company’s stock after selling 6,875 shares during the period. ARK Investment Management LLC owned 0.28% of Global-E Online worth $24,837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLBE. Fifth Third Bancorp increased its holdings in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Global-E Online during the 3rd quarter valued at about $32,000. Arcadia Investment Management Corp MI acquired a new position in shares of Global-E Online during the 4th quarter valued at about $59,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Global-E Online by 388.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,014 shares of the company’s stock valued at $110,000 after acquiring an additional 1,602 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GLBE shares. JMP Securities increased their price objective on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Morgan Stanley increased their price objective on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. Piper Sandler raised their target price on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Needham & Company LLC raised their target price on Global-E Online from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group raised their target price on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.58.

Global-E Online Trading Down 0.1 %

Shares of NASDAQ:GLBE opened at $44.07 on Wednesday. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $63.69. The firm has a market capitalization of $7.24 billion, a PE ratio of -100.16, a PEG ratio of 4.61 and a beta of 1.23. The business’s 50 day moving average is $55.98 and its 200-day moving average is $45.98.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. During the same quarter last year, the firm earned $0.22 EPS. Global-E Online’s revenue for the quarter was up 41.8% compared to the same quarter last year. On average, sell-side analysts predict that Global-E Online Ltd. will post 0.25 EPS for the current 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.