Russell Investments Group Ltd. Raises Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Russell Investments Group Ltd. boosted its position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 106.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,902 shares of the company's stock after purchasing an additional 25,247 shares during the period. Russell Investments Group Ltd.'s holdings in Global-E Online were worth $2,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Global-E Online in the fourth quarter valued at $38,875,000. SG Americas Securities LLC increased its holdings in Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock valued at $34,703,000 after acquiring an additional 625,855 shares in the last quarter. JPMorgan Chase & Co. raised its position in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock worth $70,979,000 after acquiring an additional 533,675 shares during the last quarter. Amundi raised its position in Global-E Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company's stock worth $41,619,000 after acquiring an additional 440,953 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Global-E Online in the fourth quarter valued at about $18,643,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Benchmark cut their price objective on Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Piper Sandler boosted their price target on Global-E Online from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. UBS Group decreased 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. The Goldman Sachs Group cut their target price on shares of Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Needham & Company LLC decreased their price target on shares of Global-E Online from $64.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $55.00.

Global-E Online Stock Up 9.0 %

Shares of GLBE stock traded up $2.96 during trading hours on Wednesday, hitting $35.90. 926,577 shares of the company were exchanged, compared to its average volume of 1,385,409. The firm has a fifty day moving average of $38.61 and a 200 day moving average of $45.97. Global-E Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69. The firm has a market cap of $6.07 billion, a PE ratio of -81.59, a PEG 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, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online's revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. Analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current 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.