Ameriprise Financial Inc. Purchases 59,295 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Ameriprise Financial Inc. increased its stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 115.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,477 shares of the company's stock after purchasing an additional 59,295 shares during the period. Ameriprise Financial Inc. owned approximately 0.07% of Global-E Online worth $6,024,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Arohi Asset Management PTE Ltd. grew its position in Global-E Online by 1.8% in the fourth quarter. Arohi Asset Management PTE Ltd. now owns 641,206 shares of the company's stock valued at $34,965,000 after acquiring an additional 11,600 shares during the last quarter. Northern Trust Corp grew its position in Global-E Online by 51.4% in the fourth quarter. Northern Trust Corp now owns 441,795 shares of the company's stock valued at $24,091,000 after acquiring an additional 149,958 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Global-E Online by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 36,505 shares of the company's stock valued at $1,991,000 after acquiring an additional 630 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in Global-E Online in the fourth quarter valued at about $270,000. Finally, NZS Capital LLC grew its position in Global-E Online by 214.8% in the fourth quarter. NZS Capital LLC now owns 438,263 shares of the company's stock valued at $23,898,000 after acquiring an additional 299,062 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GLBE shares. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. KeyCorp cut their price objective on Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 price objective on shares of Global-E Online in a research note on Wednesday, May 14th. JMP Securities reaffirmed a "market outperform" rating and issued a $64.00 price objective on shares of Global-E Online in a research note on Thursday, May 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Global-E Online in a research note on Thursday, May 15th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $49.42.

Global-E Online Trading Down 0.2%

GLBE stock traded down $0.07 during mid-day trading on Thursday, reaching $31.40. The company's stock had a trading volume of 3,011,242 shares, compared to its average volume of 1,434,766. The company has a market cap of $5.33 billion, a price-to-earnings ratio of -71.36, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The business's 50 day moving average price is $34.37 and its 200 day moving average price is $45.28. 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 issued its earnings results 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 business had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm's revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) earnings per share. As a group, equities analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

About Global-E Online

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.