Spyglass Capital Management LLC increased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,487,335 shares of the company's stock after buying an additional 94,664 shares during the period. Global-E Online comprises approximately 4.6% of Spyglass Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Spyglass Capital Management LLC owned approximately 0.91% of Global-E Online worth $81,104,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after purchasing an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Global-E Online in the 4th quarter valued at $59,000. Whipplewood Advisors LLC purchased a new position in Global-E Online in the 4th quarter valued at $65,000. Finally, SBI Securities Co. Ltd. purchased a new position in Global-E Online in the 4th quarter valued at $99,000. Hedge funds and other institutional investors own 94.60% of the company's stock.
Analysts Set New Price Targets
GLBE has been the topic of a number of research reports. Piper Sandler restated an "overweight" rating and issued a $42.00 price objective on shares of Global-E Online in a report on Wednesday, May 14th. Wells Fargo & Company cut their target price on Global-E Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. UBS Group cut their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 target price on shares of Global-E Online in a research note on Thursday, May 15th. Finally, Raymond James cut their price objective on Global-E Online from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $49.42.
Check Out Our Latest Research Report on GLBE
Global-E Online Stock Performance
Shares of GLBE traded up $0.77 during midday trading on Thursday, hitting $32.11. The company had a trading volume of 2,041,233 shares, compared to its average volume of 1,423,530. The company's 50-day simple moving average is $35.06 and its 200-day simple moving average is $45.61. The firm has a market capitalization of $5.45 billion, a P/E ratio of -72.98, a P/E/G ratio of 4.61 and a beta of 1.36. 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) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $189.88 million during the quarter, compared to analysts' expectations of $187.84 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm's revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.19) earnings per share. Equities analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.
Global-E Online Company Profile
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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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