Allspring Global Investments Holdings LLC Purchases 100,864 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Allspring Global Investments Holdings LLC increased its holdings in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,686,041 shares of the company's stock after acquiring an additional 100,864 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.03% of Global-E Online worth $66,818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLBE. RiverPark Advisors LLC purchased a new position in shares of Global-E Online in the third quarter valued at approximately $26,000. Tower Research Capital LLC TRC acquired a new stake in Global-E Online in the 2nd quarter valued at about $32,000. Quarry LP lifted its stake in Global-E Online by 169.9% in the 1st quarter. Quarry LP now owns 915 shares of the company's stock worth $29,000 after purchasing an additional 576 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Global-E Online during the 2nd quarter worth approximately $42,000. Finally, Money Concepts Capital Corp purchased a new stake in shares of Global-E Online in the fourth quarter valued at approximately $40,000. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Trading Up 1.6 %

GLBE traded up $0.55 during midday trading on Thursday, hitting $35.76. The company's stock had a trading volume of 1,537,517 shares, compared to its average volume of 1,133,193. The firm has a 50-day moving average price of $36.26 and a two-hundred day moving average price of $36.58. Global-E Online Ltd. has a 52-week low of $26.01 and a 52-week high of $45.72. The firm has a market cap of $5.93 billion, a P/E ratio of -44.15 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $185.40 million during the quarter, compared to analyst estimates of $181.74 million. Global-E Online had a negative net margin of 23.48% and a negative return on equity of 19.33%. The firm's revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.18) EPS. On average, equities analysts expect that Global-E Online Ltd. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on GLBE shares. Piper Sandler reiterated an "overweight" rating and set a $50.00 price objective on shares of Global-E Online in a research report on Thursday, February 22nd. Needham & Company LLC reissued a "buy" rating and set a $48.00 price target on shares of Global-E Online in a research report on Friday, April 5th. The Goldman Sachs Group raised their price objective on shares of Global-E Online from $36.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, January 11th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $40.00 target price on shares of Global-E Online in a research note on Monday, April 1st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Global-E Online presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.