Global-e Online Ltd. (NASDAQ:GLBE) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 8.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,952 shares of the company’s stock after buying an additional 2,534 shares during the period. Rhumbline Advisers’ holdings in Global-e Online were worth $1,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fred Alger Management LLC increased its holdings in Global-e Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after buying an additional 2,847,868 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Global-e Online in the 4th quarter valued at $40,146,000. Norges Bank acquired a new stake in shares of Global-e Online in the fourth quarter worth $38,875,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Global-e Online in the fourth quarter worth $27,231,000. Finally, Amundi raised its holdings in shares of Global-e Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company’s stock worth $41,619,000 after purchasing an additional 440,953 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Trading Up 1.0%

Shares of GLBE stock opened at $31.48 on Friday. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The business’s 50 day moving average is $33.94 and its two-hundred day moving average is $43.79. The company has a market capitalization of $5.34 billion, a P/E ratio of -87.44, a P/E/G ratio of 1.87 and a beta of 1.26.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The firm had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same quarter last year, the firm posted ($0.19) EPS. The business’s revenue was up 30.2% on a year-over-year basis. On average, research analysts predict that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group lowered their price target on shares of Global-e Online from $59.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. JMP Securities reissued a “market outperform” rating and issued a $64.00 price objective on shares of Global-e Online in a report on Thursday, May 15th. Benchmark lowered their target price on Global-e Online from $61.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Piper Sandler reiterated an “overweight” rating and set a $42.00 price target on shares of Global-e Online in a research report on Wednesday, May 14th. Finally, Morgan Stanley raised Global-e Online from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.00.

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.