Vitruvian Partners LLP Buys Shares of 140,037 Global-e Online Ltd. (NASDAQ:GLBE)

Key Points

• Vitruvian Partners LLP has acquired a new position in Global-e Online Ltd. by purchasing 140,037 shares valued at approximately $4.99 million, making it the fund's sixth largest investment.
• Global-e Online reported a 30.2% increase in revenue year-over-year for the most recent quarter, totaling $189.88 million, and surpassed EPS expectations by $0.02.
• The company's stock is currently down 1.2%, with a market cap of $5.80 billion and a PE ratio of -94.94.

Vitruvian Partners LLP bought a new stake in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 140,037 shares of the company's stock, valued at approximately $4,992,000. Global-e Online accounts for about 4.8% of Vitruvian Partners LLP's investment portfolio, making the stock its 6th biggest holding. Vitruvian Partners LLP owned approximately 0.08% of Global-e Online as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC acquired a new stake in shares of Global-e Online during the 4th quarter worth approximately $270,000. LPL Financial LLC boosted its position in shares of Global-e Online by 90.6% during the 4th quarter. LPL Financial LLC now owns 51,123 shares of the company's stock worth $2,788,000 after acquiring an additional 24,304 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Global-e Online by 27.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 85,100 shares of the company's stock worth $4,679,000 after acquiring an additional 18,300 shares in the last quarter. Norges Bank acquired a new stake in Global-e Online in the fourth quarter valued at approximately $38,875,000. Finally, Pictet Asset Management Holding SA boosted its position in Global-e Online by 9.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 42,825 shares of the company's stock valued at $2,335,000 after buying an additional 3,838 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on GLBE shares. Truist Financial raised 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 report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating and set a $42.00 price target on shares of Global-e Online in a report on Wednesday, May 14th. JMP Securities reiterated a "market outperform" rating and set a $64.00 price target on shares of Global-e Online in a report on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price target on shares of Global-e Online in a report on Thursday, May 15th. Finally, Benchmark cut their price target on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Global-e Online presently has a consensus rating of "Moderate Buy" and an average price target of $48.08.

Global-e Online Price Performance

Shares of NASDAQ:GLBE traded down $1.73 during midday trading on Friday, hitting $31.42. 1,612,930 shares of the company's stock were exchanged, compared to its average volume of 1,236,561. The stock has a 50 day moving average price of $32.97 and a 200-day moving average price of $39.42. The company has a market cap of $5.33 billion, a PE ratio of -87.28, a price-to-earnings-growth ratio of 1.97 and a beta of 1.25. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month 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) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The business had revenue of $189.88 million for the quarter, compared to analysts' expectations of $187.84 million. During the same period in the previous year, the company earned ($0.19) earnings per share. The firm's revenue for the quarter was up 30.2% compared to the same quarter last year. On average, analysts anticipate that Global-e Online Ltd. will post 0.25 EPS for the current fiscal 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.