Penserra Capital Management LLC lifted its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 61.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,622 shares of the company's stock after acquiring an additional 49,852 shares during the period. Penserra Capital Management LLC owned 0.08% of Global-e Online worth $4,691,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Global-e Online by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 139,297 shares of the company's stock worth $4,966,000 after buying an additional 1,396 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Global-e Online by 14.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 573,394 shares of the company's stock valued at $20,441,000 after buying an additional 73,891 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Global-e Online by 69.8% during the first quarter. Teacher Retirement System of Texas now owns 45,392 shares of the company's stock worth $1,618,000 after purchasing an additional 18,654 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. boosted its position in Global-e Online by 13.9% during the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 395,555 shares of the company's stock worth $14,102,000 after purchasing an additional 48,389 shares in the last quarter. Finally, Clay Northam Wealth Management LLC boosted its position in Global-e Online by 7.0% during the first quarter. Clay Northam Wealth Management LLC now owns 24,645 shares of the company's stock worth $879,000 after purchasing an additional 1,615 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on GLBE. Morgan Stanley raised Global-e Online from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. KeyCorp dropped their price target on Global-e Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Benchmark decreased their target price on Global-e Online from $61.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of Global-e Online in a report on Thursday, May 15th. Finally, JMP Securities reissued a "market outperform" rating and issued a $64.00 price target on shares of Global-e Online in a 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $48.00.
Read Our Latest Report on GLBE
Global-e Online Stock Performance
Shares of Global-e Online stock traded down $0.32 on Thursday, reaching $33.44. 1,175,960 shares of the company were exchanged, compared to its average volume of 1,546,912. The company's 50-day moving average is $33.60 and its two-hundred day moving average is $41.67. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of -92.89, a P/E/G ratio of 1.95 and a beta of 1.25. Global-e Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69.
Global-e Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) 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 for the quarter, compared to analysts' expectations of $187.84 million. During the same period last year, the firm earned ($0.19) EPS. The firm's revenue was up 30.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current year.
Global-e Online Company Profile
(
Free Report)
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.
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