Polar Asset Management Partners Inc. Buys Shares of 71,200 Global-E Online Ltd. (NASDAQ:GLBE)

Polar Asset Management Partners Inc. bought a new stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 71,200 shares of the company's stock, valued at approximately $3,883,000.

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

Global-E Online Stock Performance

Shares of GLBE stock traded up $0.47 during midday trading on Friday, reaching $31.87. 12,636,055 shares of the company were exchanged, compared to its average volume of 1,479,455. Global-E Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The company has a market cap of $5.41 billion, a P/E ratio of -72.43, a PEG ratio of 4.61 and a beta of 1.36. The company's 50 day moving average price is $34.37 and its two-hundred day moving average price is $45.28.

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 for the quarter, beating the consensus estimate of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company had revenue of $189.88 million during the quarter, compared to analyst estimates of $187.84 million. During the same quarter last year, the firm posted ($0.19) EPS. The business's revenue for the quarter was up 30.2% on a year-over-year basis. As a group, sell-side analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on GLBE shares. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Piper Sandler reissued an "overweight" rating and issued a $42.00 target price on shares of Global-E Online in a research report on Wednesday, May 14th. The Goldman Sachs Group dropped their price target on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Raymond James decreased their price objective on shares of Global-E Online from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Finally, KeyCorp dropped their price objective on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price 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.