KLP Kapitalforvaltning AS Buys Shares of 26,800 Global-E Online Ltd. (NASDAQ:GLBE)

KLP Kapitalforvaltning AS bought a new stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,800 shares of the company's stock, valued at approximately $1,461,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLBE. Fifth Third Bancorp raised its position in 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 purchasing an additional 197 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after buying an additional 748 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Global-E Online in the fourth quarter valued at approximately $59,000. Whipplewood Advisors LLC purchased a new position in Global-E Online in the fourth quarter worth approximately $65,000. Finally, SBI Securities Co. Ltd. acquired a new position in Global-E Online during the 4th quarter worth approximately $99,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLBE has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. KeyCorp lifted their price target on Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $64.00 price objective on shares of Global-E Online in a research report on Wednesday, March 12th. Benchmark cut their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $57.00.

Global-E Online Stock Performance

NASDAQ GLBE traded up $1.49 on Wednesday, reaching $37.48. The stock had a trading volume of 1,420,658 shares, compared to its average volume of 1,296,243. The stock has a market cap of $6.16 billion, a P/E ratio of -85.18, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 12-month low of $28.11 and a 12-month high of $63.69. The business's 50-day moving average price is $47.43 and its 200 day moving average price is $46.61.

Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online's revenue for the quarter was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, sell-side analysts predict that Global-E Online Ltd. will post 0.25 earnings per share 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.