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

Sphera Management Technology Funds Ltd bought a new position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 holdings, making the stock its 26th biggest position.

Other hedge funds also recently made changes to their positions in the company. TimesSquare Capital Management LLC increased its stake in shares of Global-E Online by 6.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company's stock worth $42,043,000 after buying an additional 45,739 shares during the period. Meitav Investment House Ltd. bought a new stake in Global-E Online in the fourth quarter valued at $454,000. Noked Israel Ltd increased its position in Global-E Online by 68.5% during the 4th quarter. Noked Israel Ltd now owns 252,818 shares of the company's stock valued at $13,786,000 after purchasing an additional 102,818 shares during the period. Amundi increased its position in Global-E Online by 126.9% during the 4th quarter. Amundi now owns 788,542 shares of the company's stock valued at $41,619,000 after purchasing an additional 440,953 shares during the period. Finally, Aigen Investment Management LP bought a new position in Global-E Online in the 4th quarter worth $802,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on GLBE shares. Needham & Company LLC restated a "buy" rating and issued a $40.00 price objective on shares of Global-E Online in a report on Thursday, May 15th. Raymond James decreased their price objective 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. Benchmark decreased their price objective on shares of Global-E Online from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Piper Sandler restated an "overweight" rating and issued a $42.00 price objective on shares of Global-E Online in a report on Wednesday, May 14th. Finally, Morgan Stanley upgraded shares of Global-E Online from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online currently has a consensus rating of "Buy" and a consensus price target of $49.42.

Global-E Online Price Performance

Global-E Online stock traded down $1.35 during mid-day trading on Wednesday, reaching $31.34. The stock had a trading volume of 1,238,967 shares, compared to its average volume of 1,420,339. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The company has a 50-day moving average price of $35.06 and a two-hundred day moving average price of $45.61. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -71.23, a PEG ratio of 4.61 and a beta of 1.36.

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, beating the consensus estimate of ($0.13) 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 $189.88 million for the quarter, compared to the consensus estimate of $187.84 million. During the same period in the prior year, the firm posted ($0.19) EPS. Global-E Online's revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities research analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal 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.