Bank of America Corp DE Increases Position in Global-E Online Ltd. (NASDAQ:GLBE)

Bank of America Corp DE boosted its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 47.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 867,474 shares of the company's stock after purchasing an additional 277,788 shares during the period. Bank of America Corp DE owned approximately 0.53% of Global-E Online worth $47,303,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GLBE. Fifth Third Bancorp raised its stake in 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 period. Geneos Wealth Management Inc. raised its stake in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after acquiring an additional 748 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Global-E Online in the 4th quarter valued at approximately $59,000. Whipplewood Advisors LLC purchased a new stake in shares of Global-E Online in the 4th quarter valued at approximately $65,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Global-E Online in the 4th quarter valued at approximately $99,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GLBE shares. Piper Sandler reissued an "overweight" rating and issued a $42.00 price target on shares of Global-E Online in a research note on Wednesday, May 14th. KeyCorp cut 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 research note on Wednesday, April 23rd. Raymond James lowered their price target on shares of Global-E Online from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Morgan Stanley upgraded shares of Global-E Online from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. Finally, Wells Fargo & Company lowered their target price on shares of Global-E Online from $45.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online presently has an average rating of "Buy" and a consensus price target of $49.42.

Global-E Online Stock Down 1.0%

NASDAQ:GLBE traded down $0.33 during trading hours on Tuesday, reaching $32.35. 232,711 shares of the company's stock were exchanged, compared to its average volume of 1,433,105. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of -73.53, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The company has a 50-day moving average of $35.22 and a 200 day moving average of $45.80.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. The company had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 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 30.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) EPS. Research analysts forecast that Global-E Online Ltd. will post 0.25 EPS 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.