Russell Investments Group Ltd. Sells 22,754 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Russell Investments Group Ltd. lessened its position in Global-E Online Ltd. (NASDAQ:GLBE) by 81.6% during the fourth quarter, Holdings Channel reports. The fund owned 5,131 shares of the company’s stock after selling 22,754 shares during the period. Russell Investments Group Ltd.’s holdings in Global-E Online were worth $203,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley boosted its position in Global-E Online by 18.2% during the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after buying an additional 2,438,737 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Global-E Online by 9.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,403,473 shares of the company’s stock valued at $95,250,000 after buying an additional 217,482 shares during the period. Lord Abbett & CO. LLC boosted its position in Global-E Online by 3.0% during the third quarter. Lord Abbett & CO. LLC now owns 1,824,925 shares of the company’s stock valued at $72,523,000 after buying an additional 52,945 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Global-E Online by 6.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,686,041 shares of the company’s stock valued at $66,818,000 after buying an additional 100,864 shares during the period. Finally, Invesco Ltd. boosted its position in Global-E Online by 198.4% during the third quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock valued at $62,268,000 after buying an additional 1,041,746 shares during the period. Institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GLBE. Piper Sandler reiterated an “overweight” rating and set a $50.00 target price on shares of Global-E Online in a report on Thursday, February 22nd. Benchmark reiterated a “buy” rating and set a $41.00 target price on shares of Global-E Online in a report on Tuesday. Bank of America increased their target price on shares of Global-E Online from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company reiterated an “overweight” rating and set a $40.00 target price on shares of Global-E Online in a report on Monday, April 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $46.00 target price on shares of Global-E Online in a report on Tuesday. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online has a consensus rating of “Buy” and a consensus target price of $43.83.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $30.80 on Thursday. Global-E Online Ltd. has a fifty-two week low of $27.30 and a fifty-two week high of $45.72. The company has a 50 day simple moving average of $33.50 and a two-hundred day simple moving average of $35.69. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of -41.62 and a beta of 1.13.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 20.08%. The business had revenue of $145.90 million during the quarter, compared to the consensus estimate of $141.55 million. During the same quarter last year, the firm earned ($0.26) earnings per share. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, analysts forecast that Global-E Online Ltd. will post -0.46 earnings per share for the current fiscal year.

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.