TD Asset Management Inc Has $2.85 Million Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• TD Asset Management Inc increased its stake in Global-e Online Ltd. by 51.5%, acquiring an additional 27,137 shares, bringing its total holdings to 79,837 shares valued at approximately $2.84 million.
• Global-e Online reported a 30.2% increase in quarterly revenue year-over-year, totaling $189.88 million, and earnings per share of ($0.11), exceeding analysts' expectations.
• The company's stock has seen substantial price target adjustments from analysts, with recommendations ranging from an "overweight" rating and a target of $64.00 to a "sell" rating with a target of $32.00.

TD Asset Management Inc boosted its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 51.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,837 shares of the company's stock after purchasing an additional 27,137 shares during the period. TD Asset Management Inc's holdings in Global-e Online were worth $2,846,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Phoenix Financial Ltd. acquired a new stake in shares of Global-e Online during the 1st quarter worth approximately $4,716,000. Pacer Advisors Inc. increased its position in shares of Global-e Online by 52.9% during the 1st quarter. Pacer Advisors Inc. now owns 1,410 shares of the company's stock valued at $50,000 after purchasing an additional 488 shares during the period. Assetmark Inc. acquired a new position in shares of Global-e Online during the 1st quarter valued at $45,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Global-e Online during the 1st quarter valued at $1,165,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Global-e Online by 111.1% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 380,000 shares of the company's stock valued at $13,547,000 after purchasing an additional 200,000 shares during the period. Institutional investors own 94.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial raised their price objective on Global-e Online from $31.00 to $32.00 and gave the stock a "sell" rating in a research note on Thursday, July 17th. JMP Securities reissued a "market outperform" rating and set a $64.00 price objective on shares of Global-e Online in a research note on Thursday, May 15th. Wells Fargo & Company reduced their price objective 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. 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $40.00 price objective on shares of Global-e Online in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $48.08.

Global-e Online Trading Up 5.8%

GLBE traded up $1.88 on Wednesday, hitting $34.46. 825,294 shares of the stock traded hands, compared to its average volume of 1,863,421. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The firm has a market capitalization of $5.85 billion, a PE ratio of -95.67, a P/E/G ratio of 1.92 and a beta of 1.24. The business has a fifty day moving average price of $33.00 and a two-hundred day moving average price of $38.82.

Global-e Online (NASDAQ:GLBE - Get Free Report) last released 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 return on equity of 6.96% and a negative net margin of 7.70%. The company had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same period in the prior year, the company posted ($0.19) EPS. The company's revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts forecast that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

About Global-e Online

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.