16,819 Shares in Global-e Online Ltd. $GLBE Bought by Virtu Financial LLC

Key Points

• Virtu Financial LLC acquired 16,819 shares of Global-e Online Ltd. worth approximately $600,000 during the first quarter, indicating growing investor interest in the company.
• Global-e Online's quarterly earnings showed a 27.9% year-over-year revenue increase to $214.88 million, and it reported earnings per share of $0.06, surpassing analyst expectations.
• The stock has a consensus rating of "Moderate Buy" from analysts, with a target price averaging $48.08, reflecting positive market sentiment despite recent price adjustments.

Virtu Financial LLC acquired a new stake in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,819 shares of the company's stock, valued at approximately $600,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fred Alger Management LLC boosted its holdings in shares of Global-e Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after buying an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC boosted its stake in shares of Global-e Online by 9.1% during the 4th quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company's stock worth $144,336,000 after acquiring an additional 220,519 shares during the last quarter. Spyglass Capital Management LLC boosted its stake in shares of Global-e Online by 6.8% during the 4th quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company's stock worth $81,104,000 after acquiring an additional 94,664 shares during the last quarter. Jennison Associates LLC grew its position in shares of Global-e Online by 33,950.1% during the 1st quarter. Jennison Associates LLC now owns 1,418,526 shares of the company's stock valued at $50,570,000 after acquiring an additional 1,414,360 shares during the period. Finally, Barton Investment Management increased its stake in shares of Global-e Online by 3.4% in the 1st quarter. Barton Investment Management now owns 1,036,767 shares of the company's stock worth $36,961,000 after purchasing an additional 34,080 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-e Online Stock Performance

GLBE traded up $1.74 during trading on Monday, hitting $32.55. The stock had a trading volume of 1,186,360 shares, compared to its average volume of 1,916,432. The stock has a 50 day simple moving average of $33.02 and a two-hundred day simple moving average of $37.28. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69. The company has a market capitalization of $5.53 billion, a PE ratio of -191.51, a PEG ratio of 1.72 and a beta of 1.24.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%. The firm had revenue of $214.88 million for the quarter, compared to the consensus estimate of $207.95 million. During the same period in the previous year, the business earned ($0.13) EPS. The firm's revenue for the quarter was up 27.9% on a year-over-year basis. On average, equities research analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GLBE. Piper Sandler reaffirmed an "overweight" rating and issued a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 14th. JMP Securities restated a "market outperform" rating and set a $64.00 target price on shares of Global-e Online in a research note on Thursday, May 15th. Zacks Research upgraded shares of Global-e Online to a "hold" rating in a research report on Friday, August 8th. Wells Fargo & Company reduced their price objective on shares of 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. Finally, Truist Financial lifted their target price on shares of Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $48.33.

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.