SG Americas Securities LLC Cuts Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

SG Americas Securities LLC cut its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 88.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,538 shares of the company’s stock after selling 82,256 shares during the quarter. SG Americas Securities LLC’s holdings in Global-E Online were worth $405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GLBE. Clearbridge Investments LLC purchased a new stake in shares of Global-E Online in the second quarter valued at approximately $83,036,000. Brown Capital Management LLC purchased a new stake in shares of Global-E Online in the first quarter valued at approximately $69,352,000. Capital World Investors increased its position in shares of Global-E Online by 60.5% in the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after buying an additional 1,877,953 shares in the last quarter. Dragoneer Investment Group LLC increased its position in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after buying an additional 1,288,829 shares in the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of Global-E Online in the second quarter valued at approximately $36,182,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on GLBE. JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of Global-E Online in a research report on Wednesday, July 10th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Thursday, August 15th. Piper Sandler reduced their price objective on Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. KeyCorp reduced their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Bank of America reduced their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online presently has a consensus rating of “Buy” and a consensus target price of $42.82.

Global-E Online Trading Up 0.1 %

NASDAQ GLBE opened at $37.65 on Friday. The stock has a market cap of $6.18 billion, a PE ratio of -50.88 and a beta of 1.10. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $42.88. The stock has a fifty day simple moving average of $35.84 and a 200-day simple moving average of $34.04.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The company had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. During the same period last year, the business posted ($0.22) EPS. Global-E Online’s revenue for the quarter was up 26.0% on a year-over-year basis. Research analysts predict that Global-E Online Ltd. will post -0.5 EPS for the current 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.