Global-E Online Ltd. (NASDAQ:GLBE) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 471.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,553 shares of the company's stock after buying an additional 50,790 shares during the period. Envestnet Asset Management Inc.'s holdings in Global-E Online were worth $3,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLBE. Fifth Third Bancorp grew its stake in shares of Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after buying an additional 197 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Global-E Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company's stock valued at $436,000 after purchasing an additional 200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Global-E Online by 1.6% during 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 buying an additional 260 shares during the period. Juncture Wealth Strategies LLC raised its stake in shares of Global-E Online by 3.9% in the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company's stock valued at $718,000 after acquiring an additional 494 shares during the period. Finally, Clay Northam Wealth Management LLC boosted its position in shares of Global-E Online by 3.0% during the fourth quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company's stock valued at $1,256,000 after buying an additional 675 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Stock Performance

GLBE stock traded up $0.23 during trading on Tuesday, reaching $35.99. 385,717 shares of the company traded hands, compared to its average volume of 1,397,792. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of -81.75, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The business has a 50 day simple moving average of $36.70 and a 200 day simple moving average of $46.00. Global-E Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69.

Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company 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 company posted $0.22 earnings per share. Global-E Online's revenue for the quarter was up 41.8% compared to the same quarter last year. 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

A number of brokerages recently issued reports on GLBE. UBS Group decreased their price target on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research note on Friday, February 21st. 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. KeyCorp decreased their price objective on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on shares of 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. Finally, The Goldman Sachs Group reduced their target price on shares of Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online has a consensus rating of "Buy" and a consensus target price of $51.33.

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.