Arrowstreet Capital Limited Partnership Takes Position in Global-E Online Ltd. (NASDAQ:GLBE)

Arrowstreet Capital Limited Partnership acquired a new position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 341,893 shares of the company's stock, valued at approximately $18,643,000. Arrowstreet Capital Limited Partnership owned approximately 0.21% of Global-E Online as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings 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 acquiring an additional 197 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of 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 buying an additional 200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of 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 worth $908,000 after acquiring an additional 260 shares during the last quarter. Juncture Wealth Strategies LLC lifted its stake in Global-E Online by 3.9% in the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company's stock valued at $718,000 after purchasing an additional 494 shares during the last quarter. Finally, Clay Northam Wealth Management LLC boosted its holdings in shares of Global-E Online by 3.0% during the 4th quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company's stock valued at $1,256,000 after acquiring an additional 675 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Trading Up 21.0 %

Global-E Online stock traded up $6.27 during trading hours on Wednesday, hitting $36.07. 4,112,197 shares of the stock traded hands, compared to its average volume of 1,349,533. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The company has a market cap of $6.10 billion, a PE ratio of -81.98, a PEG ratio of 4.61 and a beta of 1.36. The firm's 50-day moving average price is $43.64 and its two-hundred day moving average price is $46.27.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share 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 return on equity of 8.56% and a negative net margin of 10.04%. The company's revenue was up 41.8% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. On average, sell-side analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GLBE has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Global-E Online from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. The Goldman Sachs Group cut their price target on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company decreased their target price on Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC restated a "buy" rating and set a $64.00 price target on shares of Global-E Online in a research note on Wednesday, March 12th. Finally, Piper Sandler increased their price objective on Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $57.00.

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.