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

Sterling Investment Advisors Ltd. lowered its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 5.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,900 shares of the company’s stock after selling 2,975 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Global-E Online were worth $2,994,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after purchasing an additional 393 shares during the period. Juncture Wealth Strategies LLC lifted its stake in shares of Global-E Online by 3.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock worth $718,000 after purchasing an additional 494 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Global-E Online by 6.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock worth $300,000 after purchasing an additional 500 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Global-E Online by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after purchasing an additional 508 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GLBE shares. Needham & Company LLC increased their price target on Global-E Online from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. JMP Securities upped their price objective on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. Raymond James upped their price objective on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. KeyCorp upped their price objective on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Morgan Stanley upped their price objective on Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Global-E Online currently has an average rating of “Moderate Buy” and an average target price of $59.58.

Global-E Online Stock Down 2.2 %

Shares of NASDAQ GLBE opened at $44.10 on Tuesday. The firm’s 50-day moving average price is $56.23 and its two-hundred day moving average price is $45.90. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $63.69. The stock has a market capitalization of $7.24 billion, a P/E ratio of -100.23, a P/E/G ratio of 4.61 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm 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 earnings per share. Global-E Online’s revenue was up 41.8% on a year-over-year basis. As a group, equities research analysts expect that Global-E Online Ltd. will post 0.25 earnings per share 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.