40,213 Shares in Global-e Online Ltd. (NASDAQ:GLBE) Bought by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG has invested approximately $1.43 million in Global-e Online Ltd., acquiring 40,213 shares during the first quarter.
• Global-e Online's stock is currently experiencing a decline of 5.2% and has a market capitalization of $5.33 billion.
• The company reported a 30.2% year-over-year revenue increase for the most recent quarter, reaching $189.88 million, while also exceeding earnings expectations.

J. Safra Sarasin Holding AG acquired a new stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 40,213 shares of the company's stock, valued at approximately $1,434,000.

A number of other institutional investors also recently bought and sold shares of the stock. Fred Alger Management LLC increased its position in shares of Global-e Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after acquiring an additional 2,847,868 shares during the period. Jennison Associates LLC boosted its holdings in shares of Global-e Online by 33,950.1% during the first quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock worth $50,570,000 after purchasing an additional 1,414,360 shares during the period. Lord Abbett & CO. LLC acquired a new position in Global-e Online in the fourth quarter valued at about $40,146,000. Norges Bank acquired a new stake in shares of Global-e Online during the fourth quarter worth $38,875,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Global-e Online in the fourth quarter valued at approximately $27,231,000. 94.60% of the stock is owned by institutional investors.

Global-e Online Stock Up 1.0%

Shares of NASDAQ:GLBE traded up $0.36 during mid-day trading on Thursday, reaching $35.17. 2,159,074 shares of the stock were exchanged, compared to its average volume of 1,869,130. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The company has a market cap of $5.97 billion, a P/E ratio of -97.69, a P/E/G ratio of 1.93 and a beta of 1.24. The stock's 50 day simple moving average is $33.07 and its 200-day simple moving average is $38.79.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. Analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GLBE shares. JMP Securities reaffirmed a "market outperform" rating and set a $64.00 price objective on shares of Global-e Online in a report on Thursday, May 15th. Benchmark dropped 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 note on Tuesday, May 13th. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 target price on shares of Global-e Online in a report on Wednesday, May 14th. 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. Finally, Truist Financial increased their target price on shares of Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research report on Thursday, July 17th. One 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $48.08.

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.