Nomura Asset Management Co. Ltd. Sells 510 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Nomura Asset Management Co. Ltd. reduced its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,610 shares of the company’s stock after selling 510 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Global-E Online were worth $1,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after purchasing an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Global-E Online during the 4th quarter valued at about $59,000. Whipplewood Advisors LLC bought a new stake in Global-E Online during the 4th quarter valued at about $65,000. Finally, Quarry LP raised its holdings in Global-E Online by 226.1% in the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after buying an additional 1,585 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Trading Up 4.1 %

GLBE opened at $37.48 on Thursday. The company’s 50 day moving average is $47.43 and its 200 day moving average is $46.61. The company has a market cap of $6.16 billion, a price-to-earnings ratio of -85.18, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 12-month low of $28.11 and a 12-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, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter last year, the company posted $0.22 EPS. The company’s revenue was up 41.8% compared to the same quarter last year. As a group, analysts predict that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GLBE has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company reduced 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. Benchmark lowered their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Piper Sandler lifted their price objective on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $57.00.

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.