Polar Asset Management Partners Inc. Takes $3.88 Million Position in Global-E Online Ltd. (NASDAQ:GLBE)

Polar Asset Management Partners Inc. acquired a new stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,200 shares of the company's stock, valued at approximately $3,883,000.

Several other hedge funds also recently made changes to their positions in GLBE. Fifth Third Bancorp raised its stake in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company's stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company's stock valued at $43,000 after acquiring an additional 748 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Global-E Online during the fourth quarter valued at approximately $59,000. Whipplewood Advisors LLC purchased a new position in shares of Global-E Online during the fourth quarter valued at approximately $65,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Global-E Online in the 4th quarter worth approximately $99,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE traded down $0.36 on Monday, reaching $32.68. The company's stock had a trading volume of 1,907,136 shares, compared to its average volume of 1,437,666. Global-E Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69. The company has a 50-day simple moving average of $35.34 and a 200 day simple moving average of $45.84. The company has a market cap of $5.53 billion, a P/E ratio of -74.27, a PEG ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business had revenue of $189.88 million for the quarter, compared to the consensus estimate of $187.84 million. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. The business's revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities research analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GLBE. Needham & Company LLC reissued a "buy" rating and issued a $40.00 target price on shares of Global-E Online in a research note on Thursday. Morgan Stanley raised Global-E Online from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. KeyCorp lowered their price objective on shares of Global-E Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Benchmark lowered their target price on Global-E Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their target price on shares of Global-E Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $49.42.

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.