ARK Investment Management LLC Sells 6,875 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

ARK Investment Management LLC lessened its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 1.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 455,465 shares of the company’s stock after selling 6,875 shares during the period. ARK Investment Management LLC’s holdings in Global-E Online were worth $24,837,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Global-E Online during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its position in shares of Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Global-E Online during the 4th quarter worth approximately $59,000. Finally, Venturi Wealth Management LLC bought a new position in Global-E Online in the 3rd quarter valued at $87,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

NASDAQ GLBE opened at $44.07 on Wednesday. The stock has a fifty day moving average of $55.98 and a 200-day moving average of $45.98. The stock has a market capitalization of $7.24 billion, a P/E ratio of -100.16, a price-to-earnings-growth ratio of 4.61 and a beta of 1.23. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $63.69.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on GLBE. Wells Fargo & Company lifted their price objective on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. UBS Group cut their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Jefferies Financial Group lifted their price objective on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Finally, Piper Sandler lifted their price objective on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.58.

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.