Hsbc Holdings PLC Raises Position in Global-E Online Ltd. (NASDAQ:GLBE)

Hsbc Holdings PLC grew its position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 68.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,006 shares of the company's stock after acquiring an additional 18,337 shares during the period. Hsbc Holdings PLC's holdings in Global-E Online were worth $2,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clearbridge Investments LLC lifted its stake in shares of Global-E Online by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company's stock valued at $123,708,000 after purchasing an additional 34,391 shares during the period. 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. American Century Companies Inc. raised its position in Global-E Online by 9.1% during the fourth quarter. American Century Companies Inc. now owns 1,209,833 shares of the company's stock worth $65,972,000 after acquiring an additional 100,445 shares during the last quarter. Geode Capital Management LLC raised its position in Global-E Online by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 972,025 shares of the company's stock worth $52,809,000 after acquiring an additional 38,549 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Global-E Online by 3.5% during the fourth quarter. Wellington Management Group LLP now owns 923,051 shares of the company's stock worth $50,334,000 after acquiring an additional 31,019 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Analyst Ratings Changes

GLBE has been the subject of a number of analyst reports. KeyCorp cut their price objective on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. UBS Group cut 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 research report on Friday, February 21st. Benchmark cut 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 research report on Thursday, February 20th. Morgan Stanley raised shares of Global-E Online from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. Finally, Piper Sandler cut their price objective on shares of Global-E Online from $62.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $51.33.

Global-E Online Trading Up 0.3 %

Shares of Global-E Online stock opened at $35.91 on Thursday. The stock has a 50-day moving average price of $36.30 and a 200 day moving average price of $45.86. The company has a market cap of $6.07 billion, a P/E ratio of -81.61, a P/E/G ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69.

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 for the quarter, beating analysts' consensus estimates of ($0.01) 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 $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same period last year, the business earned $0.22 EPS. The firm's revenue was up 41.8% compared to the same quarter last year. On average, equities analysts forecast that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal 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.

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