Retirement Systems of Alabama acquired a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 39,200 shares of the company's stock, valued at approximately $1,397,000.
Several other large investors have also recently modified their holdings of GLBE. Fred Alger Management LLC raised its stake in shares of Global-e Online by 204.6% during the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after acquiring an additional 2,847,868 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Global-e Online during the 4th quarter worth approximately $40,146,000. Norges Bank bought a new position in shares of Global-e Online during the 4th quarter worth approximately $38,875,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Global-e Online during the 4th quarter worth approximately $27,231,000. Finally, Amundi raised its stake in shares of Global-e Online by 126.9% during the 4th quarter. Amundi now owns 788,542 shares of the company's stock worth $41,619,000 after acquiring an additional 440,953 shares in the last quarter. Institutional investors own 94.60% of the company's stock.
Wall Street Analyst Weigh In
GLBE has been the subject of several recent analyst reports. Morgan Stanley upgraded 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 research note on Wednesday, March 26th. Wells Fargo & Company dropped their target price on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. JMP Securities reissued a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. The Goldman Sachs Group dropped their target price on shares of Global-e Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. 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 research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.00.
Read Our Latest Analysis on GLBE
Global-e Online Price Performance
GLBE stock opened at $32.46 on Friday. The firm's fifty day simple moving average is $33.87 and its 200-day simple moving average is $43.05. The company has a market capitalization of $5.51 billion, a P/E ratio of -90.17, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69.
Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share 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 analysts' expectations of $187.84 million. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The firm's revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) earnings per share. As a group, sell-side analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current year.
Global-e Online Profile
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Free Report)
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.
See Also
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