USS Investment Management Ltd Takes $3.34 Million Position in Global-E Online Ltd. (NASDAQ:GLBE)

USS Investment Management Ltd bought a new stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 61,207 shares of the company's stock, valued at approximately $3,336,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GLBE. Fifth Third Bancorp boosted its position in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock worth $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. boosted its position in Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after purchasing an additional 748 shares during the period. Arcadia Investment Management Corp MI bought a new position in Global-E Online during the fourth quarter worth $59,000. Whipplewood Advisors LLC bought a new position in Global-E Online during the fourth quarter worth $65,000. Finally, SBI Securities Co. Ltd. bought a new position in Global-E Online during the fourth quarter worth $99,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Trading Up 0.7%

GLBE stock traded up $0.23 during trading on Tuesday, hitting $31.81. The company had a trading volume of 1,902,723 shares, compared to its average volume of 1,429,704. The business has a 50-day moving average of $34.75 and a 200-day moving average of $45.54. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The stock has a market cap of $5.40 billion, a PE ratio of -72.30, a PEG ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $189.88 million for 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% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) earnings per share. Research analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Benchmark dropped their target price on Global-E Online from $61.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. UBS Group decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. JMP Securities reiterated a "market outperform" rating and issued a $64.00 target price on shares of Global-E Online in a research report on Thursday, May 15th. KeyCorp decreased their target price on Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC restated a "buy" rating and set a $40.00 price target on shares of Global-E Online in a report on Thursday, May 15th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $49.42.

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.