Sphera Management Technology Funds Ltd Buys New Position in Global-E Online Ltd. (NASDAQ:GLBE)

Sphera Management Technology Funds Ltd bought a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,000 shares of the company's stock, valued at approximately $1,636,000. Global-E Online accounts for about 0.9% of Sphera Management Technology Funds Ltd's investment portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of GLBE. Fifth Third Bancorp boosted its stake in Global-E Online by 69.1% in the 4th 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 holdings in shares of Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after buying an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Global-E Online during the 4th quarter valued at about $59,000. Whipplewood Advisors LLC purchased a new position in shares of Global-E Online during the 4th quarter valued at about $65,000. Finally, SBI Securities Co. Ltd. purchased a new position in Global-E Online in the 4th quarter worth approximately $99,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Price Performance

Shares of NASDAQ:GLBE traded down $0.53 during trading on Friday, hitting $31.58. The company had a trading volume of 1,756,039 shares, compared to its average volume of 1,424,987. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of -71.77, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The company has a fifty day simple moving average of $34.87 and a two-hundred day simple moving average of $45.51.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued 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. 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 $189.88 million during the quarter, compared to analyst estimates of $187.84 million. During the same period last year, the company earned ($0.19) EPS. Global-E Online's quarterly revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLBE. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 price target on shares of Global-E Online in a research note on Wednesday, May 14th. UBS Group lowered their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Benchmark reduced their price target on Global-E Online from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Raymond James reduced their price target on Global-E Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Finally, Morgan Stanley upgraded Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online presently has a consensus rating of "Buy" and an average target price of $49.42.

Global-E Online Company 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.