CenterBook Partners LP Increases Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• CenterBook Partners LP significantly increased its stake in Global-e Online Ltd. by 527.7%, acquiring an additional 79,690 shares to own a total of approximately 94,791 shares.
• Global-e Online reported a 30.2% year-over-year revenue increase of $189.88 million and topped EPS estimates by two cents in its latest quarterly earnings.
• Despite a negative net margin of 7.70%, the company has received a consensus rating of "Moderate Buy" with a price target of $48.08 from analysts.

CenterBook Partners LP boosted its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 527.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,791 shares of the company's stock after buying an additional 79,690 shares during the quarter. CenterBook Partners LP owned approximately 0.06% of Global-e Online worth $3,379,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Berbice Capital Management LLC purchased a new position in shares of Global-e Online during the first quarter worth about $36,000. Assetmark Inc. purchased a new position in shares of Global-e Online during the first quarter worth about $45,000. Pacer Advisors Inc. grew its holdings in shares of Global-e Online by 52.9% during the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock worth $50,000 after purchasing an additional 488 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of Global-e Online during the first quarter worth about $122,000. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of Global-e Online during the fourth quarter worth about $124,000. Hedge funds and other institutional investors own 94.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GLBE. Piper Sandler restated an "overweight" rating and issued a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 14th. Wells Fargo & Company dropped their price target on 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. Needham & Company LLC restated a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a research report on Thursday, May 15th. KeyCorp dropped their price target on 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. Finally, Raymond James Financial dropped their price target 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 equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Global-e Online currently has a consensus rating of "Moderate Buy" and an average price target of $48.08.

Global-e Online Stock Performance

GLBE traded down $0.47 during trading on Friday, reaching $34.70. The company's stock had a trading volume of 1,727,752 shares, compared to its average volume of 1,306,315. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69. The company's fifty day moving average price is $33.20 and its 200-day moving average price is $38.49. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -96.39, a price-to-earnings-growth ratio of 2.09 and a beta of 1.24.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The company had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same quarter in the previous year, the company earned ($0.19) EPS. The firm's revenue for the quarter was up 30.2% compared to the same quarter last year. Equities analysts predict that Global-e Online Ltd. will post 0.25 earnings per share for the current 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.