Teacher Retirement System of Texas Has $1.46 Million Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Teacher Retirement System of Texas boosted its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 137.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,738 shares of the company's stock after acquiring an additional 15,486 shares during the quarter. Teacher Retirement System of Texas' holdings in Global-E Online were worth $1,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC bought a new stake in shares of Global-E Online in the fourth quarter worth $301,000. Royce & Associates LP bought a new stake in shares of Global-E Online in the 4th quarter valued at about $284,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Global-E Online in the fourth quarter valued at about $294,000. Commonwealth Equity Services LLC bought a new position in shares of Global-E Online during the fourth quarter worth about $270,000. Finally, Avantax Advisory Services Inc. acquired a new position in shares of Global-E Online in the fourth quarter worth approximately $216,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GLBE. Benchmark decreased their target price on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company decreased their price objective 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. UBS Group dropped their target price on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group decreased their price target on Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $57.00.

Global-E Online Trading Up 4.1 %

Global-E Online stock traded up $1.49 during midday trading on Wednesday, reaching $37.48. The stock had a trading volume of 1,420,658 shares, compared to its average volume of 1,296,243. The company has a fifty day moving average price of $47.43 and a two-hundred day moving average price of $46.61. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $63.69. The company has a market capitalization of $6.16 billion, a P/E ratio of -85.18, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $250.96 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company's quarterly revenue was up 41.8% on a year-over-year basis. On average, equities research analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

About Global-E Online

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.