Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lowered its position in Global-E Online Ltd. (NASDAQ:GLBE) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,110,603 shares of the company’s stock after selling 190,658 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Global-E Online were worth $60,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLBE. Fifth Third Bancorp increased its position in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after acquiring an additional 200 shares during the period. CIBC Asset Management Inc boosted its stake in Global-E Online by 4.4% in the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after acquiring an additional 393 shares during the period. Juncture Wealth Strategies LLC boosted its stake in Global-E Online by 3.9% in the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after acquiring an additional 494 shares during the period. Finally, Clay Northam Wealth Management LLC boosted its stake in Global-E Online by 3.0% in the fourth quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock valued at $1,256,000 after acquiring an additional 675 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JMP Securities increased their price objective on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company cut their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. UBS Group reduced their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. Morgan Stanley increased their target price on shares of Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 18th. Finally, KeyCorp raised their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.08.

Global-E Online Price Performance

Global-E Online stock opened at $36.09 on Monday. The firm has a market capitalization of $5.93 billion, a PE ratio of -82.02, a P/E/G ratio of 4.61 and a beta of 1.30. The company’s 50-day moving average is $52.02 and its 200-day moving average is $46.48. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 EPS. As a group, analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current year.

Global-E Online Company 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.