Sterling Investment Advisors Ltd. Trims Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Sterling Investment Advisors Ltd. cut its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 18.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,875 shares of the company’s stock after selling 13,200 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Global-E Online were worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank bought a new position in Global-E Online in the second quarter worth approximately $40,000. RiverPark Advisors LLC lifted its stake in shares of Global-E Online by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after purchasing an additional 2,858 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after purchasing an additional 624 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Global-E Online by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after purchasing an additional 780 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Global-E Online in the second quarter worth about $220,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of NASDAQ GLBE traded down $0.35 during mid-day trading on Friday, reaching $37.95. 862,048 shares of the company’s stock were exchanged, compared to its average volume of 902,949. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of -51.28 and a beta of 1.10. Global-E Online Ltd. has a 52-week low of $27.30 and a 52-week high of $42.88. The company’s 50-day moving average is $36.47 and its 200-day moving average is $34.15.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The business 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 earned ($0.22) earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLBE. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. Bank of America decreased their price target 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. JMP Securities restated a “market outperform” rating and set a $46.00 price target on shares of Global-E Online in a research note on Wednesday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Thursday, August 15th. Finally, KeyCorp dropped their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Global-E Online presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.09.

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.