Swiss National Bank Has $15.08 Million Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Swiss National Bank lessened its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 276,520 shares of the company’s stock after selling 22,400 shares during the period. Swiss National Bank owned 0.17% of Global-E Online worth $15,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GLBE. TimesSquare Capital Management LLC raised its holdings in shares of Global-E Online by 6.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock valued at $42,043,000 after purchasing an additional 45,739 shares during the period. Fred Alger Management LLC acquired a new position in Global-E Online during the 3rd quarter worth approximately $53,493,000. JPMorgan Chase & Co. boosted its holdings in Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after acquiring an additional 533,675 shares in the last quarter. Meitav Investment House Ltd. acquired a new stake in Global-E Online in the fourth quarter valued at approximately $454,000. Finally, Amundi grew its stake in Global-E Online by 126.9% in the fourth quarter. Amundi now owns 788,542 shares of the company’s stock valued at $41,619,000 after acquiring an additional 440,953 shares during the period. 94.60% of the stock is owned by institutional investors.

Global-E Online Trading Up 3.1 %

Shares of GLBE opened at $37.46 on Thursday. The stock has a 50 day moving average of $51.05 and a 200 day moving average of $46.45. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of -85.14, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business’s revenue was up 41.8% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. As a group, equities research analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GLBE. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 target price on shares of Global-E Online in a report on Wednesday, March 12th. UBS Group dropped their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. The Goldman Sachs Group boosted their target price on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Raymond James raised their price target on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company decreased 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

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.