Envestnet Asset Management Inc. Acquires 50,790 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Envestnet Asset Management Inc. increased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 471.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 61,553 shares of the company's stock after purchasing an additional 50,790 shares during the period. Envestnet Asset Management Inc.'s holdings in Global-E Online were worth $3,356,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its position in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after buying an additional 197 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Global-E Online by 1,968.4% during the fourth 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 acquired a new position in Global-E Online in the 4th quarter valued at approximately $59,000. Whipplewood Advisors LLC bought a new stake in shares of Global-E Online in the 4th quarter worth approximately $65,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Global-E Online in the 4th quarter worth approximately $99,000. Institutional investors own 94.60% of the company's stock.

Global-E Online Price Performance

Shares of Global-E Online stock traded up $0.11 during trading hours on Wednesday, hitting $35.91. The company's stock had a trading volume of 979,703 shares, compared to its average volume of 1,403,215. Global-E Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The company has a market capitalization of $6.07 billion, a PE ratio of -81.61, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The stock has a 50 day moving average of $36.30 and a 200 day moving average of $45.86.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm's revenue was up 41.8% compared to the same quarter last year. Equities analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current year.

Analyst Ratings Changes

GLBE has been the subject of a number of recent research reports. Piper Sandler cut their target price on Global-E Online from $62.00 to $42.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Needham & Company LLC dropped their price target on shares of Global-E Online from $64.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group lowered their price objective on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Finally, KeyCorp cut their target price on Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $51.33.

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.