Korea Investment CORP Decreases Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Korea Investment CORP cut its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,653 shares of the company’s stock after selling 1,000 shares during the quarter. Korea Investment CORP’s holdings in Global-E Online were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Fifth Third Bancorp boosted 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. grew its position in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after purchasing an additional 748 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in Global-E Online during the 4th quarter valued at $59,000. Whipplewood Advisors LLC bought a new position in shares of Global-E Online during the 4th quarter valued at $65,000. Finally, Quarry LP boosted its stake in shares of Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after buying an additional 1,585 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GLBE. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. Wells Fargo & Company dropped their price objective on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. KeyCorp upped their target price on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. The Goldman Sachs Group increased their price target on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Benchmark cut 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 report on Thursday, February 20th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online has a consensus rating of “Buy” and an average target price of $58.33.

Global-E Online Stock Up 1.0 %

NASDAQ GLBE opened at $35.99 on Wednesday. The business has a 50-day moving average price of $47.82 and a 200-day moving average price of $46.68. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -81.80, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $63.69.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. During the same period last year, the company posted $0.22 earnings per share. Global-E Online’s quarterly revenue was up 41.8% on a year-over-year basis. Research analysts expect that Global-E Online Ltd. will post 0.25 EPS 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.