Asset Management One Co. Ltd. grew its stake in Global-e Online Ltd. (NASDAQ:GLBE – Get Rating) by 22.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,418 shares of the company's stock after purchasing an additional 451 shares during the period. Asset Management One Co. Ltd.'s holdings in Global-e Online were worth $48,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of GLBE. ARK Investment Management LLC purchased a new stake in shares of Global-e Online in the first quarter valued at approximately $19,021,000. Eagle Global Advisors LLC boosted its stake in shares of Global-e Online by 54.7% in the first quarter. Eagle Global Advisors LLC now owns 31,100 shares of the company's stock valued at $1,051,000 after buying an additional 11,000 shares in the last quarter. Barton Investment Management purchased a new stake in shares of Global-e Online in the first quarter valued at approximately $680,000. Truist Financial Corp boosted its stake in shares of Global-e Online by 179.4% in the first quarter. Truist Financial Corp now owns 10,043 shares of the company's stock valued at $339,000 after buying an additional 6,448 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of Global-e Online by 11.8% in the first quarter. Park Avenue Securities LLC now owns 9,559 shares of the company's stock valued at $323,000 after buying an additional 1,012 shares in the last quarter. 68.15% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
A number of research firms recently weighed in on GLBE. Needham & Company LLC lifted their price target on Global-e Online from $25.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, August 17th. Piper Sandler decreased their target price on Global-e Online from $41.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday. KeyCorp boosted their target price on Global-e Online from $30.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 17th. Raymond James boosted their target price on Global-e Online from $25.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 17th. Finally, Morgan Stanley boosted their target price on Global-e Online from $34.00 to $51.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 17th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Global-e Online has a consensus rating of "Buy" and an average target price of $39.67.
Global-e Online Stock Down 2.3 %
NASDAQ GLBE opened at $23.27 on Monday. Global-e Online Ltd. has a fifty-two week low of $15.63 and a fifty-two week high of $69.83. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -23.62 and a beta of 1.37. The business has a fifty day moving average of $29.94 and a 200-day moving average of $25.43.
Global-e Online (NASDAQ:GLBE – Get Rating) last released its quarterly earnings results on Tuesday, August 16th. The company reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $0.01. The company had revenue of $87.31 million during the quarter, compared to analysts' expectations of $83.50 million. Global-e Online had a negative return on equity of 6.60% and a negative net margin of 50.20%. The business's revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, analysts anticipate that Global-e Online Ltd. will post -1.24 EPS for the current year.
Global-e Online Profile
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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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