Wellington Management Group LLP Acquires 31,019 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Wellington Management Group LLP raised its stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 923,051 shares of the company's stock after buying an additional 31,019 shares during the period. Wellington Management Group LLP owned approximately 0.56% of Global-E Online worth $50,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GLBE. Fifth Third Bancorp lifted its holdings in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after acquiring an additional 748 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Global-E Online during the fourth quarter valued at approximately $59,000. Whipplewood Advisors LLC acquired a new stake in Global-E Online during the fourth quarter valued at approximately $65,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Global-E Online during the fourth quarter valued at approximately $99,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLBE has been the topic of a number of recent analyst reports. Benchmark cut their price target 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. JMP Securities reissued a "market outperform" rating and set a $64.00 target price on shares of Global-E Online in a research note on Thursday, May 15th. KeyCorp decreased their target price on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Truist Financial assumed coverage on shares of Global-E Online in a report on Monday. They issued a "sell" rating and a $31.00 target price on the stock. Finally, 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 report on Thursday, May 15th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.00.

Global-E Online Stock Up 2.0%

NASDAQ:GLBE traded up $0.63 on Tuesday, reaching $32.83. The stock had a trading volume of 2,237,739 shares, compared to its average volume of 1,488,931. Global-E Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69. The company has a market capitalization of $5.57 billion, a P/E ratio of -74.61, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The stock has a fifty day moving average price of $34.13 and a 200-day moving average price of $45.20.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its earnings results 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 firm had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. The business's quarterly revenue was up 30.2% on a year-over-year basis. Sell-side analysts predict 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.