Norges Bank Invests $38.88 Million in Global-E Online Ltd. (NASDAQ:GLBE)

Norges Bank bought a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 712,904 shares of the company's stock, valued at approximately $38,875,000. Norges Bank owned approximately 0.43% of Global-E Online as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GLBE. Fifth Third Bancorp lifted its stake in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake 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 purchasing an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Global-E Online during the fourth quarter worth about $59,000. Whipplewood Advisors LLC bought a new stake in shares of Global-E Online in the 4th quarter valued at about $65,000. Finally, Quarry LP lifted its stake in shares of Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company's stock valued at $88,000 after acquiring an additional 1,585 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-E Online Stock Down 4.3 %

NASDAQ:GLBE traded down $1.54 on Thursday, reaching $34.53. 274,958 shares of the company's stock traded hands, compared to its average volume of 1,875,595. The stock has a 50-day simple moving average of $43.64 and a 200-day simple moving average of $46.27. The firm has a market cap of $5.84 billion, a PE ratio of -78.48, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 12 month low of $26.64 and a 12 month 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 earnings per share (EPS) 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 firm 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 firm posted $0.22 earnings per share. The business's revenue was up 41.8% compared to the same quarter last year. On average, equities analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GLBE. Piper Sandler increased their price objective on Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Benchmark dropped their price objective on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, February 20th. UBS Group dropped their price objective on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Friday, February 21st. Wells Fargo & Company dropped their price objective on Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their target price on Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $57.00.

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.