Franklin Resources Inc. Boosts Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Franklin Resources Inc. boosted its holdings in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 5,548.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,298 shares of the company's stock after purchasing an additional 321,504 shares during the quarter. Franklin Resources Inc. owned about 0.20% of Global-E Online worth $17,848,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Global-E Online by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company's stock worth $2,735,000 after acquiring an additional 6,485 shares during the last quarter. FMR LLC raised its holdings in Global-E Online by 4.1% during the third quarter. FMR LLC now owns 979,371 shares of the company's stock worth $37,647,000 after purchasing an additional 38,597 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in Global-E Online in the third quarter valued at about $252,000. State Street Corp boosted its holdings in Global-E Online by 3.7% in the 3rd quarter. State Street Corp now owns 1,550,647 shares of the company's stock valued at $59,607,000 after purchasing an additional 55,760 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Global-E Online during the 3rd quarter worth approximately $1,653,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. The Goldman Sachs Group decreased their price target on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Needham & Company LLC restated a "buy" rating and set a $64.00 target price on shares of Global-E Online in a research report on Wednesday, March 12th. Wells Fargo & Company cut their price target on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. UBS Group decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Finally, Piper Sandler increased their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $57.00.

Global-E Online Trading Down 1.4 %

Shares of NASDAQ GLBE traded down $0.49 during trading on Friday, reaching $33.71. The company had a trading volume of 2,955,026 shares, compared to its average volume of 1,360,608. The stock has a market capitalization of $5.70 billion, a PE ratio of -76.61, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69. The stock has a 50-day moving average price of $42.65 and a two-hundred day moving average price of $46.22.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its 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. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same quarter in the previous year, the company posted $0.22 EPS. The firm's revenue for the quarter was up 41.8% on a year-over-year basis. On average, sell-side analysts predict that Global-E Online Ltd. will post 0.25 EPS 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.