Migdal Insurance & Financial Holdings Ltd. Boosts Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Migdal Insurance & Financial Holdings Ltd. raised its stake in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 524,000 shares of the company's stock after buying an additional 42,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned 0.32% of Global-E Online worth $20,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. RiverPark Advisors LLC bought a new position in shares of Global-E Online during the third quarter worth about $26,000. Quarry LP boosted its position in Global-E Online by 169.9% during the 1st quarter. Quarry LP now owns 915 shares of the company's stock worth $29,000 after acquiring an additional 576 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Global-E Online during the 2nd quarter worth approximately $32,000. Money Concepts Capital Corp acquired a new stake in shares of Global-E Online in the fourth quarter valued at approximately $40,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Global-E Online by 23.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,025 shares of the company's stock valued at $41,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 94.60% of the company's stock.

Analysts Set New Price Targets

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

Global-E Online Price Performance

NASDAQ GLBE traded down $0.52 during trading on Wednesday, reaching $33.43. The company's stock had a trading volume of 913,647 shares, compared to its average volume of 1,118,590. The firm has a fifty day moving average of $35.95 and a 200 day moving average of $36.46. Global-E Online Ltd. has a one year low of $26.01 and a one year high of $45.72.

Global-E Online (NASDAQ:GLBE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The company had revenue of $185.40 million during the quarter, compared to the consensus estimate of $181.74 million. During the same period in the previous year, the company earned ($0.18) EPS. Global-E Online's quarterly revenue was up 32.5% on a year-over-year basis. As a group, equities analysts anticipate that Global-E Online Ltd. will post -0.5 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.