American Trust Boosts Stock Position in Global-e Online Ltd. (NASDAQ:GLBE)

American Trust increased its stake in Global-e Online Ltd. (NASDAQ:GLBE – Get Rating) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,600 shares of the company’s stock after purchasing an additional 700 shares during the quarter. American Trust’s holdings in Global-e Online were worth $364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Abdiel Capital Advisors LP lifted its stake in Global-e Online by 2.0% in the 3rd quarter. Abdiel Capital Advisors LP now owns 15,119,399 shares of the company’s stock worth $404,595,000 after purchasing an additional 302,488 shares in the last quarter. Dragoneer Investment Group LLC raised its position in shares of Global-e Online by 45.1% in the third quarter. Dragoneer Investment Group LLC now owns 8,962,409 shares of the company’s stock worth $239,834,000 after buying an additional 2,783,926 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Global-e Online by 1,236.7% during the second quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock valued at $140,576,000 after buying an additional 6,448,167 shares during the period. Artisan Partners Limited Partnership grew its position in Global-e Online by 8.2% during the third quarter. Artisan Partners Limited Partnership now owns 4,837,968 shares of the company’s stock worth $129,464,000 after buying an additional 367,234 shares in the last quarter. Finally, Eventide Asset Management LLC increased its stake in Global-e Online by 6.4% in the 3rd quarter. Eventide Asset Management LLC now owns 2,503,371 shares of the company’s stock worth $66,990,000 after acquiring an additional 150,000 shares during the last quarter. 61.12% of the stock is currently owned by institutional investors.

Global-e Online Price Performance

Shares of GLBE stock opened at $28.29 on Friday. The business has a 50-day moving average of $27.28 and a 200 day moving average of $25.62. The stock has a market capitalization of $4.40 billion, a PE ratio of -22.63 and a beta of 1.25. Global-e Online Ltd. has a 1-year low of $15.63 and a 1-year high of $37.65.

Global-e Online (NASDAQ:GLBE – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. The company had revenue of $139.87 million during the quarter, compared to analyst estimates of $138.70 million. Global-e Online had a negative net margin of 47.77% and a negative return on equity of 16.07%. The firm’s revenue was up 69.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. Analysts anticipate that Global-e Online Ltd. will post -0.98 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group cut their price objective on Global-e Online from $42.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, November 17th. The Goldman Sachs Group cut their price target on shares of Global-e Online from $33.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, January 9th. Morgan Stanley lowered their price objective on shares of Global-e Online from $48.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, December 16th. Raymond James cut their target price on shares of Global-e Online from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, November 17th. Finally, KeyCorp raised their price target on Global-e Online from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $36.00.

Global-e Online Profile

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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.