Global-E Online Ltd. (NASDAQ:GLBE) Stake Boosted by Raymond James & Associates

Raymond James & Associates boosted its holdings in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 344.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,802 shares of the company's stock after purchasing an additional 37,821 shares during the quarter. Raymond James & Associates' holdings in Global-E Online were worth $1,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley lifted its stake in shares of Global-E Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company's stock worth $628,984,000 after buying an additional 2,438,737 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Global-E Online by 1,236.7% in the second quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company's stock worth $140,576,000 after buying an additional 6,448,167 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Global-E Online by 14.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company's stock worth $86,871,000 after buying an additional 280,936 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Global-E Online by 3.0% in the third quarter. Lord Abbett & CO. LLC now owns 1,824,925 shares of the company's stock worth $72,523,000 after buying an additional 52,945 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Global-E Online by 19.1% in the third quarter. JPMorgan Chase & Co. now owns 1,675,845 shares of the company's stock worth $66,598,000 after buying an additional 268,427 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-E Online Stock Performance

Shares of NASDAQ GLBE traded up $0.26 during midday trading on Thursday, reaching $33.69. The stock had a trading volume of 779,326 shares, compared to its average volume of 1,114,068. The stock has a 50-day moving average of $35.69 and a 200-day moving average of $36.42. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of -41.59 and a beta of 1.10. Global-E Online Ltd. has a 12-month low of $26.01 and a 12-month high of $45.72.

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

Analysts Set New Price Targets

GLBE has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $48.00 price objective on shares of Global-E Online in a research report on Friday, April 5th. Piper Sandler restated an "overweight" rating and set a $50.00 price objective on shares of Global-E Online in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their price objective on shares of Global-E Online from $36.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, January 11th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $40.00 price objective on shares of Global-E Online in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.