Migdal Insurance & Financial Holdings Ltd. Acquires 200,000 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 111.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 380,000 shares of the company's stock after acquiring an additional 200,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.22% of Global-e Online worth $13,547,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Berbice Capital Management LLC bought a new position in shares of Global-e Online in the first quarter valued at $36,000. Siemens Fonds Invest GmbH bought a new position in shares of Global-e Online in the fourth quarter valued at $124,000. State of Tennessee Department of Treasury bought a new position in shares of Global-e Online in the fourth quarter valued at $199,000. TD Waterhouse Canada Inc. grew its stake in shares of Global-e Online by 52.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,745 shares of the company's stock valued at $204,000 after buying an additional 1,287 shares in the last quarter. Finally, Avantax Advisory Services Inc. bought a new position in shares of Global-e Online in the fourth quarter valued at $216,000. 94.60% of the stock is owned by institutional investors.

Global-e Online Stock Down 0.4%

NASDAQ GLBE traded down $0.13 on Friday, reaching $33.45. The company had a trading volume of 2,344,709 shares, compared to its average volume of 1,563,637. 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 $5.68 billion, a P/E ratio of -92.92, a P/E/G ratio of 1.99 and a beta of 1.25. The company's fifty day moving average is $33.08 and its 200 day moving average is $40.62.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $187.84 million. During the same period last year, the firm posted ($0.19) EPS. The business's revenue was up 30.2% compared to the same quarter last year. On average, research analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on GLBE. Truist Financial raised their price target on Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a report on Thursday. JMP Securities reissued a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a report on Thursday, May 15th. Piper Sandler restated an "overweight" rating and issued a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 14th. Benchmark decreased their target price on Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Raymond James Financial decreased their target price 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. 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.08.

Global-e Online Company 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.