Teacher Retirement System of Texas Grows Stock Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

Teacher Retirement System of Texas grew its stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 69.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,392 shares of the company's stock after purchasing an additional 18,654 shares during the period. Teacher Retirement System of Texas' holdings in Global-e Online were worth $1,618,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GLBE. Fred Alger Management LLC lifted its holdings in Global-e Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock valued at $231,178,000 after purchasing an additional 2,847,868 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Global-e Online during the 4th quarter valued at about $40,146,000. Norges Bank acquired a new stake in Global-e Online in the 4th quarter valued at about $38,875,000. T. Rowe Price Investment Management Inc. purchased a new position in Global-e Online in the 4th quarter worth approximately $27,231,000. Finally, Marshall Wace LLP boosted its holdings in shares of Global-e Online by 951.2% during the 4th quarter. Marshall Wace LLP now owns 437,421 shares of the company's stock worth $23,853,000 after purchasing an additional 395,809 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Price Performance

Shares of Global-e Online stock traded down $0.89 during trading hours on Tuesday, hitting $32.36. The company had a trading volume of 1,021,080 shares, compared to its average volume of 1,548,248. The company's 50-day moving average is $33.41 and its two-hundred day moving average is $41.03. The company has a market cap of $5.49 billion, a P/E ratio of -90.07, a price-to-earnings-growth ratio of 1.96 and a beta of 1.25. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69.

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 (EPS) 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 6.96% and a negative net margin of 7.70%. Global-e Online's revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) earnings per share. Sell-side analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GLBE shares. Raymond James Financial lowered their price target on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Benchmark decreased their price objective on Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. 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. KeyCorp decreased their price target on 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. Finally, 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 report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.

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.