Cedar Wealth Management LLC Has $1.56 Million Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Cedar Wealth Management LLC cut its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,582 shares of the company’s stock after selling 448 shares during the quarter. Global-E Online makes up about 0.6% of Cedar Wealth Management LLC’s holdings, making the stock its 21st largest holding. Cedar Wealth Management LLC’s holdings in Global-E Online were worth $1,559,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank lifted its stake in Global-E Online by 0.9% in the 3rd quarter. Swiss National Bank now owns 298,920 shares of the company’s stock valued at $11,490,000 after acquiring an additional 2,600 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Global-E Online by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company’s stock valued at $2,735,000 after acquiring an additional 6,485 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Global-E Online by 6.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock valued at $300,000 after acquiring an additional 500 shares in the last quarter. FMR LLC lifted its stake in Global-E Online by 4.1% in the 3rd quarter. FMR LLC now owns 979,371 shares of the company’s stock valued at $37,647,000 after acquiring an additional 38,597 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Global-E Online by 23.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after acquiring an additional 10,000 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLBE has been the topic of a number of analyst reports. Piper Sandler upped their price objective on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley upped their price objective on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. UBS Group reduced their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group raised their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, KeyCorp increased their target price on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

Global-E Online Trading Up 2.9 %

GLBE opened at $37.91 on Friday. The stock has a 50-day moving average price of $50.42 and a 200-day moving average price of $46.50. Global-E Online Ltd. has a 12-month low of $28.11 and a 12-month high of $63.69. The stock has a market capitalization of $6.23 billion, a P/E ratio of -86.16, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last released its quarterly 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. 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 analyst estimates of $250.96 million. During the same quarter in the prior year, the company posted $0.22 EPS. Global-E Online’s quarterly revenue was up 41.8% compared to the same quarter last year. On average, equities research analysts predict that Global-E Online Ltd. will post 0.25 EPS for the current year.

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.