ING Groep NV bought a new stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,000 shares of the company's stock, valued at approximately $872,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new position in Global-E Online in the third quarter valued at about $323,000. Mediolanum International Funds Ltd acquired a new position in shares of Global-E Online in the 3rd quarter valued at approximately $315,000. Focus Financial Network Inc. increased its stake in Global-E Online by 11.2% during the 3rd quarter. Focus Financial Network Inc. now owns 6,899 shares of the company's stock worth $265,000 after purchasing an additional 694 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Global-E Online during the 3rd quarter worth approximately $362,000. Finally, Van ECK Associates Corp raised its holdings in Global-E Online by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company's stock worth $1,235,000 after buying an additional 508 shares during the period. Institutional investors own 94.60% of the company's stock.
Global-E Online Stock Performance
Shares of GLBE stock traded up $0.03 during midday trading on Friday, hitting $42.62. 2,537,444 shares of the company were exchanged, compared to its average volume of 1,655,813. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $63.69. The firm has a market capitalization of $7.00 billion, a P/E ratio of -96.86, a PEG ratio of 4.61 and a beta of 1.23. The firm's 50 day moving average price is $55.54 and its two-hundred day moving average price is $45.94.
Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to analysts' expectations 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 business's revenue was up 41.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. Analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on GLBE. Wells Fargo & Company increased their price objective on Global-E Online from $45.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Morgan Stanley raised their price target on shares of Global-E Online from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 18th. Raymond James raised their target price on shares of Global-E Online from $41.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Needham & Company LLC upped their target price on Global-E Online from $55.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group increased their price objective on Global-E Online from $56.00 to $63.00 and gave the company a "buy" rating in a report on Friday, January 10th. 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $59.58.
Read Our Latest Research Report on GLBE
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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