Abdiel Capital Advisors LP Sells 1,052,085 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

Abdiel Capital Advisors LP lowered its stake in Global-e Online Ltd. (NASDAQ:GLBEFree Report) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,692,772 shares of the company’s stock after selling 1,052,085 shares during the period. Global-e Online accounts for 20.4% of Abdiel Capital Advisors LP’s holdings, making the stock its 2nd largest holding. Abdiel Capital Advisors LP owned approximately 7.12% of Global-e Online worth $464,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. IFP Advisors Inc bought a new position in shares of Global-e Online during the second quarter valued at $26,000. RiverPark Advisors LLC bought a new position in shares of Global-e Online during the third quarter valued at $26,000. Quarry LP raised its stake in shares of Global-e Online by 169.9% during the first quarter. Quarry LP now owns 915 shares of the company’s stock valued at $29,000 after acquiring an additional 576 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Global-e Online during the second quarter valued at $32,000. Finally, Money Concepts Capital Corp bought a new position in shares of Global-e Online during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 59.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price target on shares of Global-e Online in a research note on Tuesday, December 5th. Benchmark lowered their target price on shares of Global-e Online from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. KeyCorp lowered their target price on shares of Global-e Online from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, November 16th. The Goldman Sachs Group lifted their target price on shares of Global-e Online from $36.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, UBS Group lowered their target price on shares of Global-e Online from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Get Our Latest Stock Analysis on GLBE

Global-e Online Stock Up 0.3 %

Shares of NASDAQ GLBE traded up $0.11 during mid-day trading on Friday, reaching $33.98. 1,449,461 shares of the company’s stock traded hands, compared to its average volume of 1,353,152. The business has a 50-day simple moving average of $38.36 and a 200 day simple moving average of $37.32. Global-e Online Ltd. has a 1-year low of $24.26 and a 1-year high of $45.72.

Global-e Online (NASDAQ:GLBEGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $185.40 million for the quarter, compared to analyst estimates of $181.74 million. Global-e Online had a negative net margin of 23.48% and a negative return on equity of 14.58%. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) earnings per share. On average, equities research analysts forecast that Global-e Online Ltd. will post -0.47 EPS for the current fiscal year.

Global-e Online Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Global-e Online (NASDAQ:GLBE)

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