Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 111.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 380,000 shares of the company's stock after purchasing an additional 200,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 0.22% of Global-e Online worth $13,547,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in GLBE. Charles Schwab Investment Management Inc. lifted its holdings in Global-e Online by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,032 shares of the company's stock worth $3,982,000 after purchasing an additional 1,881 shares in the last quarter. Raymond James Financial Inc. bought a new position in Global-e Online during the 4th quarter worth approximately $2,868,000. Avantax Advisory Services Inc. bought a new position in Global-e Online during the 4th quarter worth approximately $216,000. Commonwealth Equity Services LLC bought a new position in Global-e Online during the 4th quarter worth approximately $270,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Global-e Online in the 4th quarter worth approximately $294,000. 94.60% of the stock is currently owned by institutional investors.
Global-e Online Price Performance
Shares of NASDAQ:GLBE traded up $0.90 on Monday, reaching $34.35. The company's stock had a trading volume of 1,505,953 shares, compared to its average volume of 1,567,868. The stock's 50-day moving average is $33.08 and its two-hundred day moving average is $40.43. 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 capitalization of $5.83 billion, a P/E ratio of -95.42, a PEG ratio of 1.99 and a beta of 1.25.
Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same period in the prior year, the business earned ($0.19) earnings per share. The company's quarterly revenue was up 30.2% on a year-over-year basis. Equities analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have commented on GLBE. Wells Fargo & Company reduced their target price on Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Raymond James Financial lowered their price objective on Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. The Goldman Sachs Group decreased their target price on Global-e Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. KeyCorp decreased their target price 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. Finally, Truist Financial boosted their price objective on Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a research note on Thursday. One research 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, Global-e Online presently has a consensus rating of "Moderate Buy" and an average target price of $48.08.
View Our Latest Report on GLBE
About Global-e Online
(
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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