Zurcher Kantonalbank Zurich Cantonalbank Purchases 20,477 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 465.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,879 shares of the company’s stock after acquiring an additional 20,477 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Global-E Online were worth $986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Morgan Stanley boosted its stake in shares of Global-E Online by 18.2% during the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after purchasing an additional 2,438,737 shares during the period. Invesco Ltd. boosted its stake 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. Wellington Management Group LLP boosted its stake in shares of Global-E Online by 139.4% during the third quarter. Wellington Management Group LLP now owns 1,265,548 shares of the company’s stock valued at $50,293,000 after purchasing an additional 737,019 shares during the period. Swiss National Bank purchased a new stake in shares of Global-E Online during the third quarter valued at $11,613,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Global-E Online by 14.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company’s stock valued at $86,871,000 after purchasing an additional 280,936 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of Global-E Online stock opened at $33.61 on Monday. The company has a market capitalization of $5.52 billion, a PE ratio of -41.49 and a beta of 1.10. The company has a 50-day simple moving average of $34.74 and a two-hundred day simple moving average of $36.21. Global-E Online Ltd. has a one year low of $26.01 and a one year high of $45.72.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 21st. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $185.40 million during the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. On average, equities analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.