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

Nomura Asset Management Co. Ltd. cut its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

A number of other large investors also recently modified their holdings of GLBE. Norges Bank bought a new position in Global-E Online during the fourth quarter valued at approximately $38,875,000. SG Americas Securities LLC grew its holdings in shares of Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after purchasing an additional 625,855 shares during the last quarter. JPMorgan Chase & Co. raised its position in Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares during the period. Amundi lifted its stake in Global-E Online by 126.9% in the fourth quarter. Amundi now owns 788,542 shares of the company’s stock worth $41,619,000 after purchasing an additional 440,953 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Global-E Online by 44.0% during the third quarter. Wellington Management Group LLP now owns 892,032 shares of the company’s stock valued at $34,290,000 after buying an additional 272,631 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLBE has been the subject of several analyst reports. Benchmark dropped their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 20th. The Goldman Sachs Group dropped their price objective on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. 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 research report on Monday, February 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $64.00 price objective on shares of Global-E Online in a research report on Wednesday, March 12th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online has a consensus rating of “Buy” and an average target price of $57.00.

Global-E Online Price Performance

GLBE stock opened at $37.48 on Thursday. The firm has a 50-day moving average of $47.43 and a 200 day moving average of $46.61. The company has a market cap of $6.16 billion, a P/E ratio of -85.18, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 1 year low of $28.11 and a 1 year high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. On average, equities research analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal 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.