Jennison Associates LLC Raises Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

Jennison Associates LLC increased its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 33,950.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,418,526 shares of the company's stock after acquiring an additional 1,414,360 shares during the period. Jennison Associates LLC owned approximately 0.84% of Global-e Online worth $50,570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berbice Capital Management LLC purchased a new position in shares of Global-e Online during the first quarter worth $36,000. Siemens Fonds Invest GmbH purchased a new position in shares of Global-e Online during the fourth quarter worth $124,000. State of Tennessee Department of Treasury purchased a new position in shares of Global-e Online during the fourth quarter worth $199,000. TD Waterhouse Canada Inc. boosted its position in shares of Global-e Online by 52.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,745 shares of the company's stock worth $204,000 after buying an additional 1,287 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Global-e Online in the fourth quarter valued at $216,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on GLBE shares. Truist Financial increased their price objective on Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday. Piper Sandler reiterated an "overweight" rating and issued a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 14th. Benchmark reduced their price objective on Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. KeyCorp cut their price target on Global-e Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC restated a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to MarketBeat.com, Global-e Online has a consensus rating of "Moderate Buy" and a consensus target price of $48.08.

Global-e Online Stock Down 0.4%

NASDAQ:GLBE opened at $33.45 on Friday. The company has a market capitalization of $5.68 billion, a PE ratio of -92.92, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69. The stock has a fifty day simple moving average of $33.08 and a 200-day simple moving average of $40.53.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results 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. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The firm had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same quarter in the prior year, the company earned ($0.19) EPS. Global-e Online's revenue was up 30.2% on a year-over-year basis. As a group, equities analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current 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.

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