Balyasny Asset Management L.P. Acquires 224,979 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Balyasny Asset Management L.P. boosted its holdings in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 808.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 252,817 shares of the company's stock after buying an additional 224,979 shares during the period. Balyasny Asset Management L.P. owned approximately 0.15% of Global-E Online worth $13,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC boosted its position in shares of Global-E Online by 83.2% in the 3rd quarter. Barclays PLC now owns 29,636 shares of the company's stock worth $1,139,000 after purchasing an additional 13,463 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of Global-E Online during the 4th quarter worth about $451,000. SG Americas Securities LLC increased its stake in shares of Global-E Online by 5,939.0% in the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock valued at $34,703,000 after acquiring an additional 625,855 shares during the last quarter. Mutual Advisors LLC acquired a new stake in shares of Global-E Online in the 4th quarter valued at approximately $371,000. Finally, Fifth Third Bancorp boosted its stake in Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after acquiring an additional 197 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group cut 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 dropped their price objective 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. Benchmark decreased their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Finally, KeyCorp dropped their target price on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $51.33.

Global-E Online Price Performance

NASDAQ:GLBE traded up $0.21 on Friday, hitting $37.74. 1,249,171 shares of the company's stock were exchanged, compared to its average volume of 1,393,002. The company has a market cap of $6.38 billion, a P/E ratio of -85.77, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The firm has a 50-day moving average price of $35.51 and a 200-day moving average price of $45.90. Global-E Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69.

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, beating analysts' consensus estimates 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 period last year, the company earned $0.22 earnings per share. The business's revenue was up 41.8% compared to the same quarter last year. On average, research analysts expect 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.