Global-E Online Ltd. (NASDAQ:GLBE) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 344.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 48,802 shares of the company’s stock after purchasing an additional 37,821 shares during the period. Raymond James & Associates’ holdings in Global-E Online were worth $1,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GLBE. Goldman Sachs Group Inc. increased its holdings in shares of 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 purchasing an additional 6,448,167 shares during the period. Morgan Stanley increased its holdings in shares of Global-E Online by 33.2% during the fourth quarter. Morgan Stanley now owns 9,819,329 shares of the company’s stock valued at $202,671,000 after purchasing an additional 2,446,452 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Global-E Online during the first quarter valued at $35,057,000. Invesco Ltd. increased its holdings in shares of Global-E Online by 198.4% during the third quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock valued at $62,268,000 after purchasing an additional 1,041,746 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Global-E Online by 351.1% during the second quarter. Alliancebernstein L.P. now owns 990,638 shares of the company’s stock valued at $40,557,000 after purchasing an additional 771,054 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GLBE. Wells Fargo & Company reissued an “overweight” rating and set a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. The Goldman Sachs Group raised their price target on Global-E Online from $36.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Piper Sandler reissued an “overweight” rating and set a $50.00 price target on shares of Global-E Online in a report on Thursday, February 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research note on Friday, April 5th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Global-E Online Trading Down 1.5 %

Shares of GLBE opened at $33.43 on Thursday. The business’s 50-day moving average price is $35.82 and its 200 day moving average price is $36.44. The stock has a market capitalization of $5.49 billion, a P/E ratio of -41.27 and a beta of 1.10. Global-E Online Ltd. has a 1-year low of $26.01 and a 1-year high of $45.72.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $185.40 million during the quarter, compared to analysts’ expectations of $181.74 million. Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) EPS. On average, research analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current year.

Global-E Online Company 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.