ING Groep NV Takes $872,000 Position in Global-E Online Ltd. (NASDAQ:GLBE)

ING Groep NV acquired a new position in Global-E Online Ltd. (NASDAQ:GLBE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,000 shares of the company’s stock, valued at approximately $872,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLBE. Fred Alger Management LLC bought a new position in Global-E Online in the third quarter worth approximately $53,493,000. SG Americas Securities LLC grew its stake in Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after purchasing an additional 625,855 shares in the last quarter. Eventide Asset Management LLC grew its stake in Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after purchasing an additional 580,450 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after acquiring an additional 533,675 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. boosted its position in Global-E Online by 128.4% during the 3rd quarter. Arohi Asset Management PTE Ltd. now owns 629,606 shares of the company’s stock valued at $24,202,000 after acquiring an additional 353,973 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GLBE. Jefferies Financial Group increased their target price on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. UBS Group dropped their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley increased their target price on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group increased their target price on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC increased their target price on Global-E Online from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.58.

Global-E Online Trading Down 2.2 %

Shares of GLBE opened at $44.10 on Tuesday. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $63.69. The stock has a fifty day moving average price of $56.23 and a 200-day moving average price of $45.90. The firm has a market cap of $7.24 billion, a PE ratio of -100.23, a P/E/G ratio of 4.61 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. As a group, research analysts forecast that Global-E Online Ltd. will post 0.25 EPS 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.