Lord Abbett & CO. LLC Takes $40.15 Million Position in Global-E Online Ltd. (NASDAQ:GLBE)

Lord Abbett & CO. LLC bought a new position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 736,221 shares of the company's stock, valued at approximately $40,146,000. Lord Abbett & CO. LLC owned about 0.45% of Global-E Online as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. TimesSquare Capital Management LLC increased its holdings in 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 buying an additional 45,739 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Global-E Online by 40.7% in the 3rd 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 in the last quarter. Meitav Investment House Ltd. bought a new stake in shares of Global-E Online in the 4th quarter valued at approximately $454,000. Amundi raised its position in shares of Global-E Online by 126.9% during the 4th quarter. Amundi now owns 788,542 shares of the company's stock valued at $41,619,000 after acquiring an additional 440,953 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Global-E Online during the fourth quarter worth $802,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Benchmark lowered their target price on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Needham & Company LLC lowered their price objective on shares of Global-E Online from $64.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their target price on shares of Global-E Online from $60.00 to $54.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group lowered their target price on Global-E Online from $59.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Piper Sandler reduced their price objective on 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $51.33.

Global-E Online Price Performance

GLBE stock traded up $0.49 on Thursday, reaching $36.40. The company's stock had a trading volume of 421,535 shares, compared to its average volume of 1,399,431. Global-E Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69. The company has a market capitalization of $6.16 billion, a P/E ratio of -82.57, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The firm has a fifty day moving average of $36.30 and a two-hundred day moving average of $45.86.

Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to analysts' expectations 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 company'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. As a group, equities analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

About Global-E Online

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.