PNC Financial Services Group Inc. Grows Stock Holdings in Global-e Online Ltd. $GLBE

PNC Financial Services Group Inc. lifted its position in Global-e Online Ltd. (NASDAQ:GLBE) by 32.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,543 shares of the company’s stock after purchasing an additional 1,113 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Global-e Online were worth $162,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Berbice Capital Management LLC purchased a new position in shares of Global-e Online during the first quarter worth approximately $36,000. Assetmark Inc. purchased a new position in Global-e Online in the 1st quarter worth $45,000. Pacer Advisors Inc. lifted its stake in Global-e Online by 52.9% in the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock worth $50,000 after purchasing an additional 488 shares during the last quarter. Siemens Fonds Invest GmbH bought a new stake in Global-e Online in the fourth quarter worth $124,000. Finally, State of Tennessee Department of Treasury purchased a new stake in Global-e Online during the fourth quarter valued at about $199,000. 94.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GLBE has been the topic of several analyst reports. Zacks Research upgraded Global-e Online to a “hold” rating in a report on Friday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Global-e Online in a research note on Thursday, May 15th. Piper Sandler reissued an “overweight” rating and set a $42.00 price objective on shares of Global-e Online in a research note on Wednesday, May 14th. Wells Fargo & Company cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Finally, Truist Financial boosted their price objective on shares of Global-e Online from $31.00 to $32.00 and gave the company a “sell” rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

Global-e Online Stock Up 5.6%

Global-e Online stock opened at $32.55 on Tuesday. The company has a market capitalization of $5.52 billion, a P/E ratio of -191.47, a PEG ratio of 1.72 and a beta of 1.24. The stock’s 50 day moving average is $32.99 and its 200 day moving average is $37.09. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. The company had revenue of $214.88 million during the quarter, compared to the consensus estimate of $207.95 million. During the same quarter last year, the firm earned ($0.13) earnings per share. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. As a group, equities analysts expect that Global-e Online Ltd. will post 0.25 EPS 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.