Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC cut its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 56.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,974 shares of the company’s stock after selling 11,533 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Global-E Online were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Daiwa Securities Group Inc. boosted its stake in Global-E Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after purchasing an additional 200 shares in the last quarter. Voya Investment Management LLC boosted its stake in Global-E Online by 1.3% in the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock worth $930,000 after purchasing an additional 227 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Global-E Online by 1.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after acquiring an additional 260 shares during the period. Mackenzie Financial Corp lifted its stake in Global-E Online by 7.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock valued at $368,000 after acquiring an additional 448 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in Global-E Online by 10.7% during the 1st quarter. Yousif Capital Management LLC now owns 6,054 shares of the company’s stock valued at $216,000 after acquiring an additional 584 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Benchmark decreased their price objective on shares of Global-E Online from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. UBS Group decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. KeyCorp decreased their price objective on shares of Global-E Online from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. JMP Securities restated a “market outperform” rating and set a $64.00 price objective on shares of Global-E Online in a research note on Thursday, May 15th. Finally, Raymond James decreased their price objective on shares of Global-E Online from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Global-E Online Price Performance

NASDAQ:GLBE opened at $31.41 on Tuesday. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of -71.39, a price-to-earnings-growth ratio of 4.61 and a beta of 1.26. The company has a 50 day moving average price of $34.18 and a 200-day moving average price of $44.11. Global-E Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $189.88 million during the quarter, compared to analyst estimates of $187.84 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.19) EPS. On average, sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

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.