Korea Investment CORP Sells 1,000 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Korea Investment CORP trimmed its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,653 shares of the company’s stock after selling 1,000 shares during the period. Korea Investment CORP’s holdings in Global-E Online were worth $2,053,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLBE. Fifth Third Bancorp grew its position in Global-E Online by 69.1% during the 4th 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. grew its holdings in shares of Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after purchasing an additional 200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Global-E Online by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock worth $908,000 after buying an additional 260 shares during the period. Juncture Wealth Strategies LLC raised its holdings in Global-E Online by 3.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after buying an additional 494 shares during the last quarter. Finally, Clay Northam Wealth Management LLC boosted its position in Global-E Online by 3.0% during the 4th quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock valued at $1,256,000 after buying an additional 675 shares during the period. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Up 1.0 %

GLBE stock opened at $35.99 on Wednesday. The business has a 50 day moving average of $47.82 and a 200 day moving average of $46.68. The firm has a market cap of $5.91 billion, a PE 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 issued its quarterly 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. The firm had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company’s revenue was up 41.8% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. On average, research analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on GLBE. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. KeyCorp upped 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. Benchmark cut their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Wells Fargo & Company decreased their target price on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price target on shares of Global-E Online in a report on Wednesday, March 12th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online currently has an average rating of “Buy” and a consensus price target of $58.33.

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.