Teacher Retirement System of Texas Buys 18,654 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC increased its stake in shares of 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 acquiring an additional 2,847,868 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Global-e Online during the fourth quarter valued at about $40,146,000. Norges Bank bought a new position in Global-e Online during the fourth quarter valued at about $38,875,000. T. Rowe Price Investment Management Inc. bought a new position in Global-e Online during the fourth quarter valued at about $27,231,000. Finally, Marshall Wace LLP grew its position in Global-e Online by 951.2% during the fourth quarter. Marshall Wace LLP now owns 437,421 shares of the company's stock valued at $23,853,000 after buying an additional 395,809 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GLBE shares. Wells Fargo & Company reduced their price target on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Truist Financial started coverage on shares of Global-e Online in a research report on Monday, June 2nd. They set a "sell" rating and a $31.00 target price for the company. JMP Securities reiterated a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a research report on Thursday, May 15th. Benchmark cut their target price on shares of 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, KeyCorp cut their target price on shares of Global-e Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.

Global-e Online Price Performance

GLBE stock opened at $32.99 on Friday. The firm has a market capitalization of $5.60 billion, a P/E ratio of -91.64, a P/E/G ratio of 1.98 and a beta of 1.25. The business's 50-day moving average is $33.47 and its two-hundred day moving average is $41.37. 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 released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping 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 quarter in the previous year, the company posted ($0.19) earnings per share. The firm's revenue was up 30.2% compared to the same quarter last year. On average, analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current year.

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.

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