DnB Asset Management AS Boosts Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

DnB Asset Management AS lifted its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,933 shares of the company’s stock after purchasing an additional 1,170 shares during the period. DnB Asset Management AS’s holdings in Global-E Online were worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GLBE. Fifth Third Bancorp raised its holdings in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Global-E Online by 1,968.4% during 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 during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Global-E Online during the fourth quarter worth $59,000. Whipplewood Advisors LLC acquired a new stake in shares of Global-E Online in the fourth quarter valued at about $65,000. Finally, Quarry LP lifted its stake in shares of Global-E Online by 226.1% in the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after buying an additional 1,585 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GLBE shares. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of Global-E Online in a research note on Wednesday, March 12th. 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 research report on Wednesday. KeyCorp lifted their target price on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Benchmark reduced 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 research report on Thursday, February 20th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Global-E Online has an average rating of “Buy” and a consensus price target of $57.00.

Global-E Online Trading Up 4.1 %

Shares of NASDAQ GLBE opened at $37.48 on Thursday. The stock has a fifty day simple moving average of $47.43 and a 200-day simple moving average of $46.61. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $63.69. The stock has a market capitalization of $6.16 billion, a PE ratio of -85.18, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $262.91 million for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities analysts predict that Global-E Online Ltd. will post 0.25 earnings per share 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.