Blueshift Asset Management LLC Invests $499,000 in Global-E Online Ltd. (NASDAQ:GLBE)

Blueshift Asset Management LLC purchased a new position in Global-E Online Ltd. (NASDAQ:GLBE) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 9,145 shares of the company’s stock, valued at approximately $499,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GLBE. Fred Alger Management LLC acquired a new stake in Global-E Online during the third quarter valued at approximately $53,493,000. SG Americas Securities LLC lifted its stake in Global-E Online by 5,939.0% during the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock valued at $34,703,000 after purchasing an additional 625,855 shares during the last quarter. Eventide Asset Management LLC lifted its stake in Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after purchasing an additional 580,450 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares during the last quarter. Finally, Amundi lifted its stake in Global-E Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company’s stock valued at $41,619,000 after purchasing an additional 440,953 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GLBE has been the subject of several recent research reports. Raymond James increased their target price on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler boosted their price target on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. JMP Securities boosted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. KeyCorp boosted their price target on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, UBS Group cut their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.08.

Global-E Online Stock Performance

Global-E Online stock opened at $36.84 on Friday. The firm has a market cap of $6.05 billion, a PE ratio of -83.73, a P/E/G ratio of 4.61 and a beta of 1.30. The firm’s 50 day moving average price is $50.73 and its two-hundred day moving average price is $46.38. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $63.69.

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 firm had revenue of $262.91 million for 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%. The company’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. Equities analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current fiscal 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.