BIT Capital GmbH Makes New Investment in Global-E Online Ltd. (NASDAQ:GLBE)

BIT Capital GmbH acquired a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,419 shares of the company’s stock, valued at approximately $1,113,000.

Other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Global-E Online by 27.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 85,100 shares of the company’s stock valued at $4,679,000 after buying an additional 18,300 shares during the period. LPL Financial LLC grew its position in shares of Global-E Online by 90.6% during the 4th quarter. LPL Financial LLC now owns 51,123 shares of the company’s stock valued at $2,788,000 after acquiring an additional 24,304 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Global-E Online in the 4th quarter valued at about $370,000. KLP Kapitalforvaltning AS purchased a new position in shares of Global-E Online in the 4th quarter valued at about $1,461,000. Finally, Sei Investments Co. raised its holdings in Global-E Online by 29.4% in the 4th quarter. Sei Investments Co. now owns 414,578 shares of the company’s stock worth $22,607,000 after purchasing an additional 94,154 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLBE has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. UBS Group dropped their price target 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. Benchmark reduced 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 research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price objective on shares of Global-E Online in a report on Wednesday, March 12th. Finally, Piper Sandler boosted their target price on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $58.33.

Global-E Online Trading Down 2.7 %

GLBE opened at $37.24 on Thursday. The firm has a market capitalization of $6.12 billion, a PE ratio of -84.64, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $63.69. The firm’s 50-day moving average price is $49.44 and its 200 day moving average price is $46.61.

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

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.