Counterpoint Mutual Funds LLC Acquires Shares of 5,527 Global-E Online Ltd. (NASDAQ:GLBE)

Counterpoint Mutual Funds LLC acquired a new stake in Global-E Online Ltd. (NASDAQ:GLBE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,527 shares of the company’s stock, valued at approximately $301,000.

A number of other hedge funds have also recently modified their holdings of GLBE. Fred Alger Management LLC purchased a new position in shares of Global-E Online in the third quarter valued at about $53,493,000. SG Americas Securities LLC increased its position in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after acquiring an additional 625,855 shares during the period. Eventide Asset Management LLC increased its position in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after acquiring an additional 580,450 shares during the period. JPMorgan Chase & Co. increased its position in shares of Global-E Online by 40.7% in the third 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. Finally, Amundi increased its position in shares of 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. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GLBE. JMP Securities boosted their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday, November 21st. The Goldman Sachs Group boosted 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. Piper Sandler boosted their price target on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley boosted their price target on shares of Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 18th. Finally, UBS Group reduced 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 report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.08.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $36.32 on Wednesday. The firm’s 50 day moving average price is $51.35 and its 200-day moving average price is $46.51. The company has a market cap of $5.97 billion, a PE ratio of -82.55, a P/E/G ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business’s revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. On average, analysts forecast 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.