T. Rowe Price Investment Management Inc. Buys New Position in Global-E Online Ltd. (NASDAQ:GLBE)

T. Rowe Price Investment Management Inc. purchased a new position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 499,376 shares of the company's stock, valued at approximately $27,231,000. T. Rowe Price Investment Management Inc. owned 0.30% of Global-E Online as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its stake in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after acquiring an additional 748 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Global-E Online in the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC purchased a new position in shares of Global-E Online in the 4th quarter valued at approximately $65,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Global-E Online during the fourth quarter valued at approximately $99,000. Institutional investors own 94.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and lowered their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. KeyCorp dropped their price objective on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday. Piper Sandler cut their price objective on shares of Global-E Online from $62.00 to $42.00 and set an "overweight" rating on the stock in a report on Wednesday. Wells Fargo & Company lowered 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 report on Wednesday, March 5th. Finally, The Goldman Sachs Group cut their price target on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $51.33.

Global-E Online Price Performance

Global-E Online stock opened at $36.22 on Friday. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The business's fifty day moving average is $37.00 and its 200 day moving average is $45.95. The stock has a market capitalization of $6.13 billion, a PE ratio of -82.32, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same quarter last year, the firm posted $0.22 EPS. The business's quarterly revenue was up 41.8% compared to the same quarter last year. As a group, sell-side analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

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.

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