Capital Fund Management S.A. acquired a new position in Global-e Online Ltd. (NASDAQ:GLBE – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,092 shares of the company’s stock, valued at approximately $332,000.
Other hedge funds have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in shares of Global-e Online by 176.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,647 shares of the company’s stock worth $44,000 after purchasing an additional 1,052 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Global-e Online in the second quarter worth $54,000. FNY Investment Advisers LLC bought a new stake in shares of Global-e Online in the fourth quarter valued at $61,000. Sandia Investment Management LP purchased a new position in shares of Global-e Online during the 3rd quarter valued at $62,000. Finally, Belpointe Asset Management LLC grew its stake in shares of Global-e Online by 16.6% during the 4th quarter. Belpointe Asset Management LLC now owns 5,464 shares of the company’s stock worth $113,000 after acquiring an additional 778 shares during the period. Institutional investors own 61.12% of the company’s stock.
Wall Street Analysts Forecast Growth
GLBE has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on Global-e Online from $35.00 to $40.00 in a research note on Monday, May 22nd. Needham & Company LLC restated a “buy” rating and set a $44.00 price target on shares of Global-e Online in a research note on Thursday, February 23rd. Piper Sandler raised their price objective on shares of Global-e Online from $27.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Bank of America boosted their target price on shares of Global-e Online from $36.00 to $42.00 in a report on Tuesday, May 23rd. Finally, Raymond James increased their price objective on Global-e Online from $35.00 to $40.00 in a report on Tuesday, May 23rd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $37.88.
Global-e Online Price Performance
Global-e Online (NASDAQ:GLBE – Get Rating) last issued its quarterly earnings results on Monday, May 22nd. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. The firm had revenue of $117.60 million during the quarter, compared to the consensus estimate of $111.65 million. Global-e Online had a negative return on equity of 20.01% and a negative net margin of 41.06%. The company’s revenue for the quarter was up 54.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. Equities analysts predict that Global-e Online Ltd. will post -1.02 earnings per share for the current fiscal year.
About Global-e Online
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.
Read More
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