Goldman Sachs Group Inc. Has $175.27 Million Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Goldman Sachs Group Inc. reduced its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 7.3% during the 4th quarter, Holdings Channel reports. The fund owned 4,422,720 shares of the company’s stock after selling 349,104 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Global-E Online were worth $175,272,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new position in Global-E Online during the 3rd quarter worth $126,000. Intech Investment Management LLC bought a new stake in shares of Global-E Online during the 4th quarter valued at $233,000. J.W. Cole Advisors Inc. bought a new stake in shares of Global-E Online during the 4th quarter valued at $243,000. OneAscent Financial Services LLC raised its position in shares of Global-E Online by 15.6% during the 4th quarter. OneAscent Financial Services LLC now owns 6,528 shares of the company’s stock valued at $259,000 after acquiring an additional 880 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Global-E Online during the 4th quarter valued at $259,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GLBE. Benchmark restated a “buy” rating and issued a $41.00 price objective on shares of Global-E Online in a research report on Tuesday, May 21st. Piper Sandler restated an “overweight” rating and issued a $50.00 price objective on shares of Global-E Online in a research report on Thursday, February 22nd. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $33.00 to $37.00 in a research report on Tuesday, May 21st. JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of Global-E Online in a research report on Tuesday, May 28th. Finally, 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. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $43.83.

Global-E Online Stock Performance

NASDAQ:GLBE traded up $0.92 during mid-day trading on Friday, hitting $32.00. The stock had a trading volume of 1,147,485 shares, compared to its average volume of 1,462,010. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of -43.24 and a beta of 1.07. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $45.72. The company’s 50 day simple moving average is $31.85 and its 200 day simple moving average is $35.33.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.04. The firm had revenue of $145.90 million for the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.26) EPS. As a group, equities analysts forecast that Global-E Online Ltd. will post -0.52 earnings per share for the current year.

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.