Truist Financial Corp lifted its holdings in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 79.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,837 shares of the company's stock after acquiring an additional 13,678 shares during the period. Truist Financial Corp's holdings in Global-E Online were worth $1,682,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of GLBE. Fred Alger Management LLC bought a new stake in Global-E Online in the 3rd quarter valued at about $53,493,000. SG Americas Securities LLC raised its position in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock valued at $34,703,000 after buying an additional 625,855 shares in the last quarter. Eventide Asset Management LLC boosted its stake in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company's stock valued at $60,091,000 after buying an additional 580,450 shares during the period. JPMorgan Chase & Co. grew its position in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock worth $70,979,000 after buying an additional 533,675 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. increased its stake in Global-E Online by 128.4% during the 3rd quarter. Arohi Asset Management PTE Ltd. now owns 629,606 shares of the company's stock worth $24,202,000 after acquiring an additional 353,973 shares during the period. 94.60% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GLBE. Piper Sandler upped their target price on Global-E Online from $63.00 to $66.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Needham & Company LLC increased their price objective on shares of Global-E Online from $55.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. JMP Securities raised their target price on shares of Global-E Online from $46.00 to $64.00 and gave the company a "market outperform" rating in a report on Thursday, November 21st. Raymond James upped their price target on shares of Global-E Online from $41.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.58.
Get Our Latest Stock Report on GLBE
Global-E Online Stock Down 3.9 %
Shares of NASDAQ:GLBE traded down $1.67 during trading on Monday, hitting $40.95. 1,378,810 shares of the company were exchanged, compared to its average volume of 1,647,028. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $63.69. The company has a market capitalization of $6.73 billion, a P/E ratio of -93.65, a price-to-earnings-growth ratio of 4.61 and a beta of 1.23. The business's 50 day moving average is $55.30 and its 200-day moving average is $46.20.
Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share 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 company had revenue of $262.91 million for the quarter, compared to analysts' expectations of $250.96 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business's quarterly revenue was up 41.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current year.
About Global-E Online
(
Free Report)
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.
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