Envestnet Asset Management Inc. Has $1.48 Million Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

Envestnet Asset Management Inc. decreased its position in Global-e Online Ltd. (NASDAQ:GLBE – Get Rating) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,799 shares of the company’s stock after selling 1,037 shares during the period. Envestnet Asset Management Inc.’s holdings in Global-e Online were worth $1,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abdiel Capital Advisors LP raised its holdings in shares of Global-e Online by 2.0% during the third quarter. Abdiel Capital Advisors LP now owns 15,119,399 shares of the company’s stock valued at $404,595,000 after purchasing an additional 302,488 shares during the period. Dragoneer Investment Group LLC lifted its stake in shares of Global-e Online by 45.1% during the 3rd quarter. Dragoneer Investment Group LLC now owns 8,962,409 shares of the company’s stock valued at $239,834,000 after buying an additional 2,783,926 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Global-e Online by 1,236.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock valued at $140,576,000 after buying an additional 6,448,167 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Global-e Online by 8.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,837,968 shares of the company’s stock valued at $129,464,000 after buying an additional 367,234 shares in the last quarter. Finally, Eventide Asset Management LLC lifted its stake in Global-e Online by 6.4% in the 3rd quarter. Eventide Asset Management LLC now owns 2,503,371 shares of the company’s stock worth $66,990,000 after purchasing an additional 150,000 shares in the last quarter. Institutional investors and hedge funds own 61.12% of the company’s stock.

Global-e Online Trading Down 2.8 %

Shares of NASDAQ GLBE opened at $34.94 on Tuesday. The firm has a 50 day moving average of $29.83 and a 200 day moving average of $26.23. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of -27.95 and a beta of 1.25. Global-e Online Ltd. has a 12-month low of $16.32 and a 12-month high of $37.65.

Global-e Online (NASDAQ:GLBE – Get Rating) last announced its earnings results on Monday, May 22nd. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.02. The company had revenue of $117.60 million during the quarter, compared to analyst estimates of $111.65 million. Global-e Online had a negative net margin of 47.77% and a negative return on equity of 16.07%. The firm’s quarterly revenue was up 54.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share. Sell-side analysts predict that Global-e Online Ltd. will post -0.99 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America increased their target price on shares of Global-e Online from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, March 29th. Jefferies Financial Group raised their price target on shares of Global-e Online from $35.00 to $40.00 in a report on Monday. Piper Sandler raised their target price on shares of Global-e Online from $27.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $44.00 target price on shares of Global-e Online in a research report on Thursday, February 23rd. Finally, KeyCorp lifted their price target on shares of Global-e Online from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, April 5th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $36.50.

Global-e Online Profile

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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.