26,800 Shares in Global-E Online Ltd. (NASDAQ:GLBE) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Global-E Online Ltd. (NASDAQ:GLBE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,800 shares of the company’s stock, valued at approximately $1,461,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fifth Third Bancorp boosted its holdings in shares of Global-E Online by 69.1% in the 4th 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. Daiwa Securities Group Inc. boosted its holdings in Global-E Online by 2.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $436,000 after purchasing an additional 200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Global-E Online by 1.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock worth $908,000 after purchasing an additional 260 shares during the period. Juncture Wealth Strategies LLC raised its stake in shares of Global-E Online by 3.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after buying an additional 494 shares during the last quarter. Finally, Clay Northam Wealth Management LLC lifted its holdings in shares of Global-E Online by 3.0% in the 4th quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock valued at $1,256,000 after buying an additional 675 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GLBE shares. Needham & Company LLC reiterated a “buy” rating and set a $64.00 price target on shares of Global-E Online in a research report on Wednesday, March 12th. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $55.00 to $46.00 in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Benchmark 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 research report on Thursday, February 20th. Finally, UBS Group dropped their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $58.33.

Global-E Online Trading Down 2.8 %

Shares of Global-E Online stock opened at $35.68 on Friday. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $63.69. The firm has a market capitalization of $5.86 billion, a PE ratio of -81.09, a P/E/G ratio of 4.61 and a beta of 1.30. The firm’s 50-day moving average price is $48.65 and its 200 day moving average price is $46.55.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating 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 the consensus estimate of $250.96 million. During the same quarter last year, the business posted $0.22 earnings per share. The business’s quarterly revenue was up 41.8% compared to the same quarter last year. On average, sell-side analysts predict that Global-E Online Ltd. will post 0.25 EPS 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.