Lord Abbett & CO. LLC Acquires Shares of 736,221 Global-E Online Ltd. (NASDAQ:GLBE)

Lord Abbett & CO. LLC acquired a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 736,221 shares of the company's stock, valued at approximately $40,146,000. Lord Abbett & CO. LLC owned 0.45% of Global-E Online as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. TimesSquare Capital Management LLC grew its position in shares of Global-E Online by 6.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company's stock worth $42,043,000 after buying an additional 45,739 shares during the period. JPMorgan Chase & Co. grew its position in shares of Global-E Online by 40.7% during the 3rd 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 during the period. Meitav Investment House Ltd. acquired a new stake in shares of Global-E Online during the 4th quarter worth approximately $454,000. Amundi grew its position in shares of Global-E Online by 126.9% during the 4th quarter. Amundi now owns 788,542 shares of the company's stock worth $41,619,000 after buying an additional 440,953 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Global-E Online during the 4th quarter worth approximately $802,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GLBE. Piper Sandler reduced their price target on shares of Global-E Online from $62.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC reduced their price target on shares of Global-E Online from $64.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. KeyCorp reduced their price target on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced 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 research report on Wednesday, March 5th. Finally, Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $51.33.

Global-E Online Stock Performance

NASDAQ:GLBE traded down $0.46 during trading hours on Monday, reaching $35.76. The company's stock had a trading volume of 765,866 shares, compared to its average volume of 1,401,744. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of -81.27, a PEG ratio of 4.61 and a beta of 1.36. The firm 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 1 year low of $26.64 and a 1 year high of $63.69.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to analysts' expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm's revenue was up 41.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. Equities analysts anticipate 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.