Institute for Wealth Management LLC. Purchases New Position in Global-e Online Ltd. (NASDAQ:GLBE)

Institute for Wealth Management LLC. acquired a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,468 shares of the company's stock, valued at approximately $302,000.

Several other large investors also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in Global-e Online in the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC purchased a new stake in shares of Global-e Online during the fourth quarter worth $65,000. SBI Securities Co. Ltd. acquired a new stake in Global-e Online during the fourth quarter valued at $99,000. First Horizon Advisors Inc. grew its stake in Global-e Online by 388.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,014 shares of the company's stock valued at $110,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Global-e Online by 696.1% in the 4th quarter. Blue Trust Inc. now owns 2,030 shares of the company's stock worth $111,000 after purchasing an additional 1,775 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Stock Up 3.2%

NASDAQ GLBE traded up $1.01 during trading on Tuesday, hitting $32.36. The company's stock had a trading volume of 2,085,821 shares, compared to its average volume of 1,525,662. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The firm has a market cap of $5.49 billion, a P/E ratio of -89.89, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The firm has a 50 day moving average price of $33.87 and a 200 day moving average price of $43.35.

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

Analysts Set New Price Targets

A number of research firms recently commented on GLBE. Needham & Company LLC restated a "buy" rating and issued a $40.00 price objective on shares of Global-e Online in a report 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 report on Wednesday, April 23rd. Truist Financial assumed coverage on shares of Global-e Online in a research note on Monday, June 2nd. They set a "sell" rating and a $31.00 price target on the stock. Raymond James Financial reduced their price objective on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Finally, Morgan Stanley upgraded shares of Global-e Online from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Global-e Online presently has a consensus rating of "Moderate Buy" and an average target price 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.