CIBC Asset Management Inc Grows Position in Global-E Online Ltd. (NASDAQ:GLBE)

CIBC Asset Management Inc raised its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,645 shares of the company’s stock after acquiring an additional 1,225 shares during the period. CIBC Asset Management Inc’s holdings in Global-E Online were worth $580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GLBE. Fred Alger Management LLC purchased a new position in shares of Global-E Online during the 3rd quarter valued at about $53,493,000. SG Americas Securities LLC raised its holdings in shares of Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after buying an additional 625,855 shares in the last quarter. Eventide Asset Management LLC raised its holdings in shares of Global-E Online by 59.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after buying an additional 580,450 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of 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 buying an additional 533,675 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. raised its holdings in shares of Global-E Online by 128.4% during the 3rd quarter. Arohi Asset Management PTE Ltd. now owns 629,606 shares of the company’s stock valued at $24,202,000 after buying an additional 353,973 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GLBE. Benchmark decreased their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James raised their price objective on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC raised their price objective on Global-E Online from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group raised their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, KeyCorp raised their price target on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Global-E Online currently has an average rating of “Moderate Buy” and an average price target of $59.58.

Global-E Online Stock Performance

Shares of GLBE stock opened at $45.07 on Friday. The firm has a market cap of $7.40 billion, a P/E ratio of -102.43, a P/E/G ratio of 4.61 and a beta of 1.23. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The business’s 50 day moving average price is $56.49 and its 200-day moving average price is $45.75.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million for 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 quarterly revenue was up 41.8% compared to the same quarter last year. During the same period last year, the company earned $0.22 EPS. As a group, equities analysts predict that Global-E Online Ltd. will post 0.25 EPS for the current 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.