Lansforsakringar Fondforvaltning AB publ Takes Position in Global-E Online Ltd. (NASDAQ:GLBE)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,647 shares of the company's stock, valued at approximately $1,180,000.

A number of other hedge funds also recently bought and sold shares of the business. Fifth Third Bancorp raised its stake in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after acquiring an additional 197 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after acquiring an additional 748 shares during the period. Blue Trust Inc. raised its stake in shares of Global-E Online by 696.1% in the fourth quarter. Blue Trust Inc. now owns 2,030 shares of the company's stock valued at $111,000 after acquiring an additional 1,775 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Global-E Online by 385.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 41,768 shares of the company's stock valued at $2,278,000 after acquiring an additional 33,159 shares during the period. Finally, Mediolanum International Funds Ltd raised its stake in shares of Global-E Online by 260.1% in the fourth quarter. Mediolanum International Funds Ltd now owns 29,814 shares of the company's stock valued at $1,621,000 after acquiring an additional 21,534 shares during the period. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-E Online Stock Performance

Global-E Online stock traded up $0.71 during midday trading on Tuesday, hitting $32.91. 3,787,430 shares of the company's stock were exchanged, compared to its average volume of 1,497,143. Global-E Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The firm has a 50-day moving average of $34.06 and a two-hundred day moving average of $45.12. The company has a market cap of $5.59 billion, a PE ratio of -74.80, a P/E/G ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its 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. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company had revenue of $189.88 million for the quarter, compared to analysts' expectations of $187.84 million. During the same period in the prior year, the business earned ($0.19) EPS. The firm's quarterly revenue was up 30.2% on a year-over-year basis. As a group, equities analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Raymond James reduced their target price on shares of Global-E Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Wells Fargo & Company reduced their target price on shares of Global-E Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. KeyCorp reduced their target price on shares of 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, Benchmark reduced their target price on shares of 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. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Global-E Online currently has a consensus rating of "Moderate Buy" and an average target price of $48.00.

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.