Principal Financial Group Inc. Buys 114,828 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Principal Financial Group Inc. grew its position in Global-E Online Ltd. (NASDAQ:GLBE) by 1,701.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 121,576 shares of the company’s stock after acquiring an additional 114,828 shares during the period. Principal Financial Group Inc. owned 0.07% of Global-E Online worth $6,630,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of GLBE. Fred Alger Management LLC bought a new position in Global-E Online in the third quarter valued at about $53,493,000. JPMorgan Chase & Co. increased its stake 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 buying an additional 533,675 shares during the period. Mount Yale Investment Advisors LLC increased its stake in shares of Global-E Online by 143.8% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock valued at $1,118,000 after buying an additional 12,094 shares during the period. Public Sector Pension Investment Board raised its holdings in Global-E Online by 23.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after buying an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Global-E Online by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after buying an additional 30,995 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group decreased their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Raymond James raised their target price on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley upped their price target on 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. Needham & Company LLC increased their price target on Global-E Online from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, KeyCorp lifted their price objective on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.58.

Global-E Online Stock Performance

Shares of GLBE stock opened at $42.62 on Monday. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The stock has a 50 day simple moving average of $55.30 and a two-hundred day simple moving average of $46.20. The company has a market cap of $7.00 billion, a P/E ratio of -96.86, a PEG ratio of 4.61 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. On average, research analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current 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.