Blueshift Asset Management LLC Makes New Investment in Global-E Online Ltd. (NASDAQ:GLBE)

Blueshift Asset Management LLC acquired a new stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,145 shares of the company's stock, valued at approximately $499,000.

Several other institutional investors have also modified their holdings of GLBE. TimesSquare Capital Management LLC raised its stake in Global-E Online by 6.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company's stock valued at $42,043,000 after buying an additional 45,739 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Global-E Online in the 3rd quarter valued at about $53,493,000. JPMorgan Chase & Co. increased its holdings in shares of Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock valued at $70,979,000 after acquiring an additional 533,675 shares during the last quarter. Meitav Investment House Ltd. acquired a new stake in shares of Global-E Online during the 4th quarter worth about $454,000. Finally, Amundi lifted its stake in Global-E Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company's stock worth $41,619,000 after purchasing an additional 440,953 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GLBE. Wells Fargo & Company dropped their price target on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley increased their target price on shares of Global-E Online from $52.00 to $55.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the company a "buy" rating in a research note on Friday, January 10th. KeyCorp raised their price objective on Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, UBS Group reduced their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.08.

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Global-E Online Stock Down 2.3 %

GLBE traded down $0.90 on Tuesday, hitting $38.26. 1,462,032 shares of the company traded hands, compared to its average volume of 1,269,818. Global-E Online Ltd. has a 12-month low of $28.11 and a 12-month high of $63.69. The company has a 50 day moving average of $50.14 and a 200-day moving average of $46.64. The stock has a market capitalization of $6.28 billion, a PE ratio of -86.95, a PEG ratio of 4.61 and a beta of 1.30.

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, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business had revenue of $262.91 million during the quarter, compared to analysts' expectations of $250.96 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company's quarterly revenue was up 41.8% compared to the same quarter last year. On average, research analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current year.

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.