Nuveen Asset Management LLC Grows Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Nuveen Asset Management LLC grew its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,869 shares of the company’s stock after purchasing an additional 21,608 shares during the quarter. Nuveen Asset Management LLC owned about 0.17% of Global-E Online worth $15,534,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its stake in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after purchasing an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Global-E Online in the 4th quarter worth approximately $59,000. Whipplewood Advisors LLC purchased a new position in Global-E Online in the 4th quarter worth approximately $65,000. Finally, SBI Securities Co. Ltd. purchased a new position in Global-E Online in the 4th quarter worth approximately $99,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GLBE. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Global-E Online in a report on Thursday, May 15th. Raymond James cut their price target on shares of Global-E Online from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Wells Fargo & Company cut their price target on shares of Global-E Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. Finally, UBS Group cut 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 report on Friday, February 21st. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $49.42.

Global-E Online Stock Performance

Global-E Online stock opened at $31.58 on Monday. Global-E Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The firm has a 50 day moving average price of $34.87 and a 200 day moving average price of $45.60. The company has a market capitalization of $5.36 billion, a PE ratio of -71.77, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm had revenue of $189.88 million during the quarter, compared to the consensus estimate of $187.84 million. During the same quarter last year, the firm earned ($0.19) EPS. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. As a group, equities research analysts forecast that Global-E Online Ltd. will post 0.25 earnings per share for the current 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.