New Insight Wealth Advisors Purchases New Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

New Insight Wealth Advisors bought a new position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 120,000 shares of the company's stock, valued at approximately $4,278,000. Global-e Online makes up about 1.9% of New Insight Wealth Advisors' holdings, making the stock its 14th largest holding. New Insight Wealth Advisors owned about 0.07% of Global-e Online at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Fred Alger Management LLC boosted its position in Global-e Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after buying an additional 2,847,868 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Global-e Online in the 4th quarter worth $40,146,000. Norges Bank bought a new position in shares of Global-e Online in the 4th quarter worth $38,875,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Global-e Online in the 4th quarter worth $27,231,000. Finally, Amundi boosted its position in shares of Global-e Online by 126.9% in the 4th quarter. Amundi now owns 788,542 shares of the company's stock worth $41,619,000 after purchasing an additional 440,953 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley upgraded Global-e Online from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Piper Sandler reaffirmed an "overweight" rating and set a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 14th. The Goldman Sachs Group dropped their price objective on 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. Truist Financial started coverage on Global-e Online in a research note on Monday, June 2nd. They set a "sell" rating and a $31.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price objective on shares of Global-e Online in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.00.

Global-e Online Stock Performance

Global-e Online stock traded up $0.92 during midday trading on Wednesday, reaching $33.76. 1,465,942 shares of the company's stock were exchanged, compared to its average volume of 1,544,386. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of -93.78, a P/E/G ratio of 1.97 and a beta of 1.25. The stock's 50-day simple moving average is $33.64 and its 200 day simple moving average is $41.73.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping 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 business had revenue of $189.88 million during the quarter, compared to analysts' expectations of $187.84 million. During the same quarter last year, the company posted ($0.19) earnings per share. Global-e Online's quarterly revenue was up 30.2% on a year-over-year basis. Research analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

About Global-e Online

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.