Harel Insurance Investments & Financial Services Ltd. Purchases 73,891 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 14.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 573,394 shares of the company's stock after acquiring an additional 73,891 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned about 0.34% of Global-e Online worth $20,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fred Alger Management LLC increased its stake in Global-e Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after buying an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC increased its stake in 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 valued at $144,336,000 after buying an additional 220,519 shares during the last quarter. Clearbridge Investments LLC increased its stake in Global-e Online by 1.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock valued at $123,708,000 after buying an additional 34,391 shares during the last quarter. Spyglass Capital Management LLC increased its stake in Global-e Online by 6.8% in the 4th 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 last quarter. Finally, American Century Companies Inc. increased its stake in Global-e Online by 9.1% in the 4th 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 last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Stock Performance

GLBE traded down $0.20 on Monday, reaching $33.17. The company had a trading volume of 1,974,173 shares, compared to its average volume of 1,540,344. The stock has a market cap of $5.63 billion, a P/E ratio of -92.14, a P/E/G ratio of 1.98 and a beta of 1.25. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The company's fifty day moving average is $33.70 and its 200 day moving average is $41.79.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. The firm had revenue of $189.88 million during the quarter, compared to the consensus estimate 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 business's revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. On average, sell-side analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GLBE shares. Benchmark decreased their price objective on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. KeyCorp decreased their price objective on shares of Global-e Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley raised shares of Global-e Online from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price objective on shares of Global-e Online in a research report on Thursday, May 15th. Finally, 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 objective for the company. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $48.00.

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.