Voloridge Investment Management LLC Invests $14.32 Million in Global-E Online Ltd. (NASDAQ:GLBE)

Voloridge Investment Management LLC acquired a new position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 262,597 shares of the company's stock, valued at approximately $14,319,000. Voloridge Investment Management LLC owned 0.16% of Global-E Online as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mutual Advisors LLC bought a new position in shares of Global-E Online during the 4th quarter valued at about $371,000. Fifth Third Bancorp raised its position in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after buying an additional 197 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after buying an additional 748 shares during the last quarter. Juncture Wealth Strategies LLC raised its position in Global-E Online by 3.9% in the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company's stock valued at $718,000 after buying an additional 494 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Global-E Online by 696.1% in the 4th quarter. Blue Trust Inc. now owns 2,030 shares of the company's stock valued at $111,000 after buying an additional 1,775 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

Global-E Online Price Performance

Shares of GLBE stock traded up $0.42 during trading hours on Thursday, reaching $31.89. The company had a trading volume of 1,013,552 shares, compared to its average volume of 1,427,349. Global-E Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69. The business has a fifty day simple moving average of $34.52 and a 200-day simple moving average of $45.34. The company has a market cap of $5.41 billion, a price-to-earnings ratio of -72.31, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. Global-E Online's quarterly revenue was up 30.2% compared to the same quarter last year. During the same period last year, the company posted ($0.19) earnings per share. On average, equities research analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Benchmark dropped their target price on Global-E Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. UBS Group lowered their price target on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group lowered their price target on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of Global-E Online in a research report on Thursday, May 15th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $49.42.

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.