Nuveen Asset Management LLC Increases Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Nuveen Asset Management LLC boosted its stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 284,869 shares of the company's stock after acquiring an additional 21,608 shares during the period. Nuveen Asset Management LLC owned 0.17% of Global-E Online worth $15,534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp grew its stake in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after purchasing an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Global-E Online during the fourth quarter valued at $59,000. Whipplewood Advisors LLC bought a new stake in Global-E Online in the 4th quarter worth about $65,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Global-E Online during the 4th quarter valued at about $99,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Trading Up 1.3%

Shares of GLBE traded up $0.40 during midday trading on Friday, reaching $31.80. 617,132 shares of the stock were exchanged, compared to its average volume of 1,431,832. The company has a market capitalization of $5.40 billion, a P/E ratio of -72.24, a PEG ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The company's 50 day moving average is $34.37 and its two-hundred day moving average is $45.28.

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 8.56% and a negative net margin of 10.04%. The business had revenue of $189.88 million for the quarter, compared to analysts' expectations of $187.84 million. During the same quarter last year, the firm earned ($0.19) EPS. The business's revenue for the quarter was up 30.2% on a year-over-year basis. On average, sell-side analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

GLBE has been the topic of several research reports. Raymond James 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 restated a "buy" rating and issued a $40.00 price target on shares of Global-E Online in a research report on Thursday, May 15th. The Goldman Sachs Group cut their price objective on Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. UBS Group lowered their price target on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Finally, Wells Fargo & Company lowered 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 research note on Thursday, May 15th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $49.42.

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.