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

New Insight Wealth Advisors purchased a new position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 120,000 shares of the company's stock, valued at approximately $4,278,000. Global-e Online comprises about 1.9% of New Insight Wealth Advisors' holdings, making the stock its 14th largest holding. New Insight Wealth Advisors owned approximately 0.07% of Global-e Online as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Siemens Fonds Invest GmbH acquired a new stake in shares of Global-e Online in the fourth quarter worth $124,000. US Bancorp DE acquired a new stake in Global-e Online during the fourth quarter worth about $157,000. State of Tennessee Department of Treasury bought a new stake in shares of Global-e Online during the fourth quarter valued at approximately $199,000. TD Waterhouse Canada Inc. increased its holdings in Global-e Online by 52.4% in the 4th 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 during the period. Finally, Atria Investments Inc acquired a new position in shares of Global-e Online in the 4th quarter valued at $214,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-e Online Trading Down 1.3%

Shares of GLBE stock traded down $0.45 on Friday, reaching $32.99. The company had a trading volume of 943,283 shares, compared to its average volume of 1,548,312. The company has a 50-day moving average of $33.55 and a 200-day moving average of $41.53. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The stock has a market cap of $5.60 billion, a PE ratio of -91.64, a PEG ratio of 2.00 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $187.84 million. During the same quarter in the prior year, the company earned ($0.19) EPS. The firm's quarterly revenue was up 30.2% on a year-over-year basis. Sell-side analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on GLBE. Raymond James Financial lowered 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 price target on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Piper Sandler reaffirmed an "overweight" rating and set a $42.00 price objective on shares of Global-e Online in a report on Wednesday, May 14th. Morgan Stanley raised Global-e Online from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Finally, Truist Financial began coverage on Global-e Online in a report on Monday, June 2nd. They set a "sell" rating and a $31.00 price target for the company. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.00.

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.