Russell Investments Group Ltd. Grows Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Russell Investments Group Ltd. grew its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 106.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,902 shares of the company's stock after acquiring an additional 25,247 shares during the period. Russell Investments Group Ltd.'s holdings in Global-E Online were worth $2,667,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GLBE. Fifth Third Bancorp boosted its stake 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 during the period. Geneos Wealth Management Inc. increased its position in 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 acquiring an additional 748 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Global-E Online in the 4th quarter worth about $59,000. Whipplewood Advisors LLC acquired a new position in shares of Global-E Online during the 4th quarter worth approximately $65,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Global-E Online during the 4th quarter worth approximately $99,000. Institutional investors own 94.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLBE. Piper Sandler boosted their price target on Global-E Online from $63.00 to $66.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. KeyCorp raised their price target on Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. UBS Group decreased their target price 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, The Goldman Sachs Group cut their price target on shares of Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $55.00.

Global-E Online Stock Up 2.6 %

GLBE traded up $0.82 during midday trading on Tuesday, hitting $32.52. 737,396 shares of the company were exchanged, compared to its average volume of 1,380,244. The firm's 50 day moving average price is $39.21 and its 200-day moving average price is $46.06. The firm has a market capitalization of $5.50 billion, a P/E ratio of -73.83, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its 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 company had revenue of $262.91 million for the quarter, compared to analyst estimates 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 firm's revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the company 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 fiscal 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.