Fred Alger Management LLC lifted its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 204.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,239,470 shares of the company's stock after acquiring an additional 2,847,868 shares during the quarter. Global-E Online makes up 1.1% of Fred Alger Management LLC's portfolio, making the stock its 16th biggest position. Fred Alger Management LLC owned 2.58% of Global-E Online worth $231,178,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GLBE. Driehaus Capital Management LLC bought a new stake in shares of Global-E Online in the 4th quarter worth about $5,248,000. Contour Asset Management LLC grew 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 purchasing an additional 220,519 shares during the period. Corton Capital Inc. purchased a new position in Global-E Online during the fourth quarter worth approximately $253,000. Cresset Asset Management LLC increased its stake in shares of Global-E Online by 1,554.0% during the fourth quarter. Cresset Asset Management LLC now owns 137,464 shares of the company's stock worth $7,496,000 after purchasing an additional 129,153 shares in the last quarter. Finally, Caption Management LLC purchased a new stake in shares of Global-E Online during the fourth quarter worth $413,000. 94.60% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on GLBE shares. Morgan Stanley upgraded shares of Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Piper Sandler reduced their target price on Global-E Online from $62.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC cut their price objective on shares of Global-E Online from $64.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Benchmark decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, The Goldman Sachs Group dropped their price objective on shares of 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. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online presently has an average rating of "Buy" and a consensus target price of $51.33.
Check Out Our Latest Stock Analysis on GLBE
Global-E Online Trading Up 0.6 %
Shares of NASDAQ GLBE traded up $0.21 during mid-day trading on Friday, hitting $37.74. The company had a trading volume of 1,249,171 shares, compared to its average volume of 1,393,002. Global-E Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -85.77, a P/E/G ratio of 4.61 and a beta of 1.36. The stock's 50-day moving average price is $35.51 and its 200-day moving average price is $45.85.
Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm's revenue for the quarter was up 41.8% on a year-over-year basis. As a group, equities research analysts forecast that Global-E Online Ltd. will post 0.25 earnings per share for the current year.
Global-E Online Profile
(
Free Report)
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.
Read More
Before you consider Global-E Online, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global-E Online wasn't on the list.
While Global-E Online currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
