Mitsubishi UFJ Trust & Banking Corp Decreases Position in Global-E Online Ltd. (NASDAQ:GLBE)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 44,559 shares of the company’s stock after selling 621 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Global-E Online were worth $2,430,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its holdings in shares of 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. Daiwa Securities Group Inc. raised its stake in Global-E Online by 2.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after acquiring an additional 200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Global-E Online by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after acquiring an additional 260 shares during the last quarter. Juncture Wealth Strategies LLC boosted its stake in Global-E Online by 3.9% in the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after acquiring an additional 494 shares in the last quarter. Finally, Clay Northam Wealth Management LLC grew its holdings in shares of Global-E Online by 3.0% during the fourth quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock worth $1,256,000 after purchasing an additional 675 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GLBE. Piper Sandler boosted their target price on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. UBS Group decreased their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. The Goldman Sachs Group lifted their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Finally, KeyCorp raised their price objective on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online has an average rating of “Buy” and a consensus target price of $58.33.

Global-E Online Stock Performance

Shares of GLBE opened at $35.65 on Tuesday. The stock has a market capitalization of $5.86 billion, a P/E ratio of -81.02, a P/E/G 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. The company’s fifty day moving average is $48.24 and its two-hundred day moving average is $46.68.

Global-E Online (NASDAQ:GLBE) last issued its quarterly 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. The business had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business’s revenue was up 41.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. Sell-side analysts predict that Global-E Online Ltd. will post 0.25 EPS 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.