New York State Common Retirement Fund Acquires 13,644 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

New York State Common Retirement Fund raised its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,238 shares of the company's stock after purchasing an additional 13,644 shares during the period. New York State Common Retirement Fund's holdings in Global-E Online were worth $2,521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLBE. Fred Alger Management LLC bought a new stake in shares of Global-E Online during the 3rd quarter valued at approximately $53,493,000. SG Americas Securities LLC lifted its stake in Global-E Online by 5,939.0% in the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock valued at $34,703,000 after purchasing an additional 625,855 shares during the last quarter. Eventide Asset Management LLC increased its holdings in shares of Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company's stock worth $60,091,000 after buying an additional 580,450 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock valued at $70,979,000 after acquiring an additional 533,675 shares during the last quarter. Finally, Arohi Asset Management PTE Ltd. lifted its stake in shares of Global-E Online by 128.4% in the 3rd quarter. Arohi Asset Management PTE Ltd. now owns 629,606 shares of the company's stock valued at $24,202,000 after acquiring an additional 353,973 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

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Global-E Online Stock Up 1.9 %

GLBE traded up $0.74 during trading on Wednesday, hitting $40.50. The company's stock had a trading volume of 1,407,523 shares, compared to its average volume of 1,231,395. The firm has a market capitalization of $6.65 billion, a P/E ratio of -92.05, a PEG ratio of 4.61 and a beta of 1.23. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $63.69. The stock's fifty day moving average price is $54.42 and its 200-day moving average price is $46.25.

Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online's revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. Equities research analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on GLBE. UBS Group dropped their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Wells Fargo & Company cut their target price on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday. KeyCorp upped their price target on shares of Global-E Online from $55.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Morgan Stanley raised their price target on shares of Global-E Online from $52.00 to $55.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 18th. Finally, Raymond James increased their price objective on Global-E Online from $41.00 to $55.00 and gave the company an "outperform" rating in a report 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.08.

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.