Renaissance Technologies LLC Invests $480,000 in Global-E Online Ltd. (NASDAQ:GLBE)

Renaissance Technologies LLC bought 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 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,800 shares of the company's stock, valued at approximately $480,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Global-E Online by 83.2% in the 3rd quarter. Barclays PLC now owns 29,636 shares of the company's stock worth $1,139,000 after acquiring an additional 13,463 shares in the last quarter. Tidal Investments LLC grew its position in shares of Global-E Online by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 70,792 shares of the company's stock worth $2,721,000 after buying an additional 3,129 shares during the period. JPMorgan Chase & Co. lifted its position in Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock valued at $70,979,000 after acquiring an additional 533,675 shares during the period. Nordea Investment Management AB purchased a new stake in Global-E Online in the fourth quarter worth about $451,000. Finally, SG Americas Securities LLC increased its stake in shares of Global-E Online by 5,939.0% during the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock valued at $34,703,000 after purchasing an additional 625,855 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-E Online Price Performance

GLBE stock traded up $0.21 during midday trading on Friday, hitting $37.74. The stock had a trading volume of 214,759 shares, compared to its average volume of 1,389,879. The company's 50-day moving average price is $35.55 and its 200 day moving average price is $45.80. Global-E Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The firm has a market cap of $6.38 billion, a PE ratio of -85.77, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online's revenue for the quarter was up 41.8% on a year-over-year basis. During the same quarter last year, the business earned $0.22 EPS. As a group, sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GLBE shares. KeyCorp cut their target price on 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. Needham & Company LLC dropped their target price on shares of Global-E Online from $64.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group cut their target price on Global-E Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on Global-E Online from $60.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Finally, UBS Group decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a "buy" rating for the company in a report on Friday, February 21st. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $51.33.

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.