Truist Financial Corp grew its position in shares of Global-e Online Ltd. (NASDAQ:GLBE – Get Rating) by 8.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 16,156 shares of the company's stock after purchasing an additional 1,245 shares during the period. Truist Financial Corp's holdings in Global-e Online were worth $432,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GLBE. Abdiel Capital Advisors LP lifted its position in Global-e Online by 48.2% during the second quarter. Abdiel Capital Advisors LP now owns 14,816,911 shares of the company's stock valued at $298,857,000 after purchasing an additional 4,816,249 shares during the period. Goldman Sachs Group Inc. raised its position in Global-e Online by 1,236.7% in the second quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company's stock worth $140,576,000 after acquiring an additional 6,448,167 shares during the period. Nikko Asset Management Americas Inc. raised its position in Global-e Online by 57.2% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,246,939 shares of the company's stock worth $45,163,000 after acquiring an additional 817,918 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Global-e Online in the second quarter worth approximately $45,321,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in Global-e Online by 53.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,500,733 shares of the company's stock worth $30,270,000 after acquiring an additional 522,417 shares during the period. Hedge funds and other institutional investors own 61.12% of the company's stock.
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Several analysts have recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Global-e Online from $42.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, November 17th. Piper Sandler cut their target price on shares of Global-e Online from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, November 17th. Raymond James cut their target price on shares of Global-e Online from $40.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, November 17th. The Goldman Sachs Group dropped their price objective on shares of Global-e Online from $33.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, January 9th. Finally, Morgan Stanley dropped their price objective on shares of Global-e Online from $48.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, December 16th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $34.67.
Global-e Online Stock Down 5.1 %
Shares of Global-e Online stock opened at $25.53 on Wednesday. The firm's 50 day moving average price is $21.77 and its 200-day moving average price is $25.34. Global-e Online Ltd. has a 52-week low of $15.63 and a 52-week high of $47.70. The company has a market cap of $3.97 billion, a P/E ratio of -20.93 and a beta of 0.86.Global-e Online (NASDAQ:GLBE – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.10). The firm had revenue of $105.56 million during the quarter, compared to analysts' expectations of $101.48 million. Global-e Online had a negative return on equity of 13.72% and a negative net margin of 53.83%. As a group, equities research analysts forecast that Global-e Online Ltd. will post -1.37 EPS for the current fiscal year.
Global-e Online Company 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.
Further Reading
- Get a free copy of the StockNews.com research report on Global-e Online (GLBE)
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