Voloridge Investment Management LLC Acquires New Position in Global-E Online Ltd. (NASDAQ:GLBE)

Voloridge Investment Management LLC bought a new position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLBE. Fred Alger Management LLC boosted its holdings in 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 valued at $231,178,000 after acquiring an additional 2,847,868 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Global-E Online in the fourth quarter valued at $40,146,000. Norges Bank acquired a new position in Global-E Online in the fourth quarter valued at $38,875,000. T. Rowe Price Investment Management Inc. acquired a new position in Global-E Online in the fourth quarter valued at $27,231,000. Finally, Amundi boosted its holdings in Global-E Online by 126.9% in the fourth quarter. Amundi now owns 788,542 shares of the company's stock valued at $41,619,000 after acquiring an additional 440,953 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE traded up $0.23 during trading on Tuesday, hitting $31.81. The company's stock had a trading volume of 1,902,723 shares, compared to its average volume of 1,429,704. Global-E Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The stock's 50-day moving average price is $34.75 and its two-hundred day moving average price is $45.54. The company has a market capitalization 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 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 8.56% and a negative net margin of 10.04%. The business had revenue of $189.88 million for the quarter, compared to analysts' expectations of $187.84 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The company's revenue was up 30.2% compared to the same quarter last year. On average, equities analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLBE. Piper Sandler reiterated an "overweight" rating and issued a $42.00 target price on shares of Global-E Online in a report on Wednesday, May 14th. The Goldman Sachs Group reduced their price objective on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. UBS Group reduced their price objective on 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. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of Global-E Online in a research note on Thursday, May 15th. Finally, JMP Securities restated a "market outperform" rating and set a $64.00 price objective on shares of Global-E Online in a research note on Thursday, May 15th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online currently has a consensus rating of "Buy" and a consensus price target of $49.42.

Global-E Online 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.