Cresset Asset Management LLC grew its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 1,554.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 137,464 shares of the company's stock after purchasing an additional 129,153 shares during the period. Cresset Asset Management LLC owned approximately 0.08% of Global-E Online worth $7,496,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in GLBE. Fifth Third Bancorp boosted its position in shares of 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 purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock worth $43,000 after buying an additional 748 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Global-E Online in the fourth quarter worth approximately $59,000. Whipplewood Advisors LLC purchased a new position in shares of Global-E Online in the fourth quarter worth approximately $65,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Global-E Online during the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 94.60% of the company's stock.
Global-E Online Stock Performance
Shares of Global-E Online stock traded up $0.21 during midday trading on Friday, reaching $37.74. 1,249,171 shares of the company's stock traded hands, compared to its average volume of 1,393,002. Global-E Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The company's 50 day simple moving average is $35.51 and its 200 day simple moving average is $45.79. The company has a market cap of $6.38 billion, a price-to-earnings ratio of -85.77, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.
Global-E Online (NASDAQ:GLBE - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business's revenue was up 41.8% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, equities research analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Needham & Company LLC lowered 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 research report on Tuesday, April 22nd. KeyCorp lowered their price target on Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Benchmark decreased 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. Finally, UBS Group dropped their target price on Global-E Online from $68.00 to $64.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online presently has a consensus rating of "Buy" and an average target price of $51.33.
Get Our Latest Research Report on GLBE
About Global-E Online
(
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.
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