Swiss National Bank reduced its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 276,520 shares of the company's stock after selling 22,400 shares during the period. Swiss National Bank owned approximately 0.17% of Global-E Online worth $15,079,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp raised its holdings in shares of 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. Daiwa Securities Group Inc. increased its holdings in Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company's stock valued at $436,000 after buying an additional 200 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Global-E Online by 4.4% in the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company's stock valued at $362,000 after buying an additional 393 shares in the last quarter. Juncture Wealth Strategies LLC increased its holdings in Global-E Online by 3.9% in the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company's stock valued at $718,000 after buying an additional 494 shares in the last quarter. Finally, Clay Northam Wealth Management LLC increased its holdings in Global-E Online by 3.0% in the fourth quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company's stock valued at $1,256,000 after buying an additional 675 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Benchmark cut their price objective on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $64.00 price objective on shares of Global-E Online in a report on Wednesday, March 12th. KeyCorp lifted their price objective on shares of Global-E Online from $55.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, Wells Fargo & Company cut their target price on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Global-E Online has a consensus rating of "Moderate Buy" and an average target price of $59.08.
Check Out Our Latest Report on Global-E Online
Global-E Online Price Performance
GLBE traded up $1.07 on Friday, reaching $37.91. 1,651,117 shares of the company's stock were exchanged, compared to its average volume of 1,268,158. The stock has a market cap of $6.23 billion, a PE ratio of -86.16, a P/E/G ratio of 4.61 and a beta of 1.30. 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 $50.42 and its 200-day moving average price is $46.50.
Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million for 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 quarterly revenue was up 41.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, research analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.
Global-E Online Profile
(
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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