Driehaus Capital Management LLC Buys Shares of 96,249 Global-E Online Ltd. (NASDAQ:GLBE)

Driehaus Capital Management LLC purchased a new stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 96,249 shares of the company's stock, valued at approximately $5,248,000. Driehaus Capital Management LLC owned 0.06% of Global-E Online at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Contour Asset Management LLC lifted its holdings in Global-E Online by 9.1% during the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock worth $144,336,000 after buying an additional 220,519 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Global-E Online by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock worth $123,708,000 after buying an additional 34,391 shares during the period. American Century Companies Inc. boosted its position in shares of Global-E Online by 9.1% in the fourth quarter. American Century Companies Inc. now owns 1,209,833 shares of the company's stock worth $65,972,000 after buying an additional 100,445 shares during the period. Geode Capital Management LLC boosted its position in Global-E Online by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 972,025 shares of the company's stock valued at $52,809,000 after purchasing an additional 38,549 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Global-E Online by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 923,051 shares of the company's stock worth $50,334,000 after buying an additional 31,019 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GLBE. UBS Group cut their price objective 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. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective on shares of Global-E Online in a research report on Thursday. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. Benchmark lowered their target price on Global-E Online from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Piper Sandler restated an "overweight" rating and issued a $42.00 price objective on shares of Global-E Online in a report on Wednesday. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $49.42.

Global-E Online Trading Down 2.7%

Shares of Global-E Online stock traded down $0.93 on Thursday, hitting $33.35. 2,570,071 shares of the company traded hands, compared to its average volume of 1,441,488. The firm's 50-day simple moving average is $35.50 and its 200 day simple moving average is $45.82. The company has a market cap of $5.64 billion, a P/E ratio of -75.80, 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 announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current 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.