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

New Insight Wealth Advisors acquired a new stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 120,000 shares of the company's stock, valued at approximately $4,278,000. Global-e Online comprises 1.9% of New Insight Wealth Advisors' investment portfolio, making the stock its 14th largest holding. New Insight Wealth Advisors owned 0.07% of Global-e Online at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Values First Advisors Inc. lifted its stake in shares of Global-e Online by 5.1% in the 1st quarter. Values First Advisors Inc. now owns 18,614 shares of the company's stock valued at $664,000 after purchasing an additional 908 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Global-e Online by 61.0% in the 1st quarter. Penserra Capital Management LLC now owns 131,622 shares of the company's stock valued at $4,691,000 after purchasing an additional 49,852 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Global-e Online by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 139,297 shares of the company's stock valued at $4,966,000 after purchasing an additional 1,396 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Global-e Online by 14.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 573,394 shares of the company's stock valued at $20,441,000 after purchasing an additional 73,891 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Global-e Online by 69.8% in the 1st quarter. Teacher Retirement System of Texas now owns 45,392 shares of the company's stock worth $1,618,000 after acquiring an additional 18,654 shares during the period. Institutional investors and hedge funds own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James Financial dropped 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 report on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 target price on shares of Global-e Online in a report on Thursday, May 15th. Truist Financial assumed coverage on shares of Global-e Online in a report on Monday, June 2nd. They issued a "sell" rating and a $31.00 target price on the stock. Wells Fargo & Company dropped 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 report on Thursday, May 15th. Finally, Benchmark dropped 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 report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.00.

Global-e Online Stock Performance

Shares of NASDAQ:GLBE traded down $0.45 on Friday, hitting $32.99. 943,287 shares of the company were exchanged, compared to its average volume of 1,551,914. The company's 50 day moving average price is $33.47 and its two-hundred day moving average price is $41.28. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -91.64, a PEG ratio of 1.96 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $189.88 million for the quarter, compared to the consensus estimate of $187.84 million. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The business's revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. Research analysts predict 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.