Price T Rowe Associates Inc. MD Buys 8,711 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,157 shares of the company's stock after purchasing an additional 8,711 shares during the period. Price T Rowe Associates Inc. MD's holdings in Global-E Online were worth $3,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLBE. TimesSquare Capital Management LLC raised its stake in shares of Global-E Online by 6.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company's stock valued at $42,043,000 after acquiring an additional 45,739 shares during the last quarter. Meitav Investment House Ltd. bought a new position in Global-E Online in the 4th quarter worth approximately $454,000. Amundi grew its holdings in Global-E Online by 126.9% during the 4th 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 period. Aigen Investment Management LP acquired a new stake in Global-E Online during the 4th quarter worth $802,000. Finally, Mount Yale Investment Advisors LLC grew its holdings in shares of Global-E Online by 143.8% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company's stock valued at $1,118,000 after buying an additional 12,094 shares during the period. Institutional investors own 94.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Benchmark decreased their price target 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. Wells Fargo & Company cut their price target on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Piper Sandler cut their price target on shares of 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. The Goldman Sachs Group cut their price target on shares of 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. Finally, Needham & Company LLC cut 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 report on Tuesday, April 22nd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $51.33.

Global-E Online Price Performance

NASDAQ GLBE traded up $0.21 during mid-day trading on Friday, reaching $37.74. 1,249,171 shares of the stock were exchanged, compared to its average volume of 1,393,002. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The stock has a 50 day simple moving average of $35.51 and a 200-day simple moving average of $45.90. The stock has a market cap of $6.38 billion, a P/E ratio of -85.77, a P/E/G ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to analysts' expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business's revenue was up 41.8% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. Sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

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.