Jennison Associates LLC increased its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 33,950.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.84% of Global-e Online worth $50,570,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GLBE. Charles Schwab Investment Management Inc. grew its holdings in Global-e Online by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,032 shares of the company's stock valued at $3,982,000 after purchasing an additional 1,881 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Global-e Online in the fourth quarter worth approximately $2,868,000. Avantax Advisory Services Inc. acquired a new stake in shares of Global-e Online in the fourth quarter worth approximately $216,000. Commonwealth Equity Services LLC acquired a new stake in shares of Global-e Online in the fourth quarter worth approximately $270,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Global-e Online in the fourth quarter worth approximately $294,000. 94.60% of the stock is owned by institutional investors and hedge funds.
Global-e Online Trading Up 0.2%
Shares of Global-e Online stock traded up $0.08 on Wednesday, hitting $34.48. The stock had a trading volume of 162,384 shares, compared to its average volume of 1,917,072. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of -95.76, a P/E/G ratio of 2.04 and a beta of 1.25. The company's 50 day moving average price is $33.08 and its 200 day moving average price is $40.43.
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 for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $189.88 million during the quarter, compared to the consensus estimate 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 business's quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) EPS. Analysts predict that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on GLBE shares. KeyCorp reduced their price objective on Global-e Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Raymond James Financial dropped their price objective on 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. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 14th. Finally, Benchmark dropped their price objective on 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. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Global-e Online presently has an average rating of "Moderate Buy" and an average price target of $48.08.
Read Our Latest Report on GLBE
Global-e Online Company Profile
(
Free Report)
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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