Retirement Systems of Alabama Takes Position in Global-e Online Ltd. (NASDAQ:GLBE)

Retirement Systems of Alabama purchased a new position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,200 shares of the company's stock, valued at approximately $1,397,000.

A number of other hedge funds have also recently made changes to their positions in GLBE. Fred Alger Management LLC increased its holdings in 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 purchasing an additional 2,847,868 shares during the period. Contour Asset Management LLC lifted its holdings in shares of Global-e Online by 9.1% in the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock worth $144,336,000 after buying an additional 220,519 shares during the period. Clearbridge Investments LLC grew its position in shares of Global-e Online by 1.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock worth $123,708,000 after buying an additional 34,391 shares in the last quarter. Spyglass Capital Management LLC increased its stake in shares of Global-e Online by 6.8% during the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock valued at $81,104,000 after buying an additional 94,664 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Global-e Online by 9.1% during the fourth quarter. American Century Companies Inc. now owns 1,209,833 shares of the company's stock valued at $65,972,000 after buying an additional 100,445 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GLBE. Benchmark dropped their target price on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Truist Financial started coverage on shares of Global-e Online in a research report on Monday, June 2nd. They issued a "sell" rating and a $31.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price objective on shares of Global-e Online in a research note on Thursday, May 15th. KeyCorp cut their price objective on shares of Global-e Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Raymond James Financial dropped their price objective on Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $48.00.

Global-e Online Stock Performance

NASDAQ GLBE traded up $0.72 during trading hours on Monday, reaching $33.54. The stock had a trading volume of 2,713,359 shares, compared to its average volume of 1,529,689. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69. The stock has a fifty day moving average of $33.91 and a 200 day moving average of $42.57. The stock has a market cap of $5.69 billion, a P/E ratio of -93.17, a price-to-earnings-growth ratio of 1.95 and a beta of 1.26.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released 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 7.70% and a negative return on equity of 6.96%. The business 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 earned ($0.19) EPS. The business's revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities research analysts forecast that Global-e Online Ltd. will post 0.25 EPS for the current year.

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.