Principal Financial Group Inc. Sells 115,490 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

Principal Financial Group Inc. decreased its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 95.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,086 shares of the company’s stock after selling 115,490 shares during the quarter. Principal Financial Group Inc.’s holdings in Global-e Online were worth $217,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GLBE. Teacher Retirement System of Texas increased its position in shares of Global-e Online by 69.8% during the first quarter. Teacher Retirement System of Texas now owns 45,392 shares of the company’s stock worth $1,618,000 after acquiring an additional 18,654 shares during the period. Yelin Lapidot Holdings Management Ltd. increased its holdings in Global-e Online by 13.9% during the 1st quarter. Yelin Lapidot Holdings Management Ltd. now owns 395,555 shares of the company’s stock worth $14,102,000 after purchasing an additional 48,389 shares during the period. Clay Northam Wealth Management LLC increased its holdings in Global-e Online by 7.0% during the 1st quarter. Clay Northam Wealth Management LLC now owns 24,645 shares of the company’s stock worth $879,000 after purchasing an additional 1,615 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Global-e Online by 202.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 126,313 shares of the company’s stock valued at $4,503,000 after purchasing an additional 84,545 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Global-e Online by 8.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 39,830 shares of the company’s stock worth $1,420,000 after buying an additional 3,244 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Trading Down 0.4%

Shares of GLBE opened at $33.45 on Monday. The stock has a fifty day moving average price of $33.08 and a 200-day moving average price of $40.43. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The firm has a market cap of $5.68 billion, a PE ratio of -92.92, a P/E/G ratio of 1.99 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The company’s revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. As a group, research analysts forecast that Global-e Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

GLBE has been the topic of several research reports. Morgan Stanley upgraded Global-e Online from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. JMP Securities reissued a “market outperform” rating and set a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Raymond James Financial lowered their price target on shares of Global-e Online from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, May 15th. Wells Fargo & Company dropped their price objective on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $42.00 price objective on shares of Global-e Online in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.08.

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.