OneAscent Wealth Management LLC acquired a new stake in shares of Global-e Online Ltd. (NASDAQ:GLBE – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,178 shares of the company’s stock, valued at approximately $212,000.
Several other institutional investors also recently bought and sold shares of the business. Abdiel Capital Advisors LP increased its holdings in Global-e Online by 0.8% during the fourth quarter. Abdiel Capital Advisors LP now owns 15,246,199 shares of the company’s stock valued at $314,682,000 after buying an additional 126,800 shares during the period. Morgan Stanley grew its holdings in Global-e Online by 33.2% in the fourth quarter. Morgan Stanley now owns 9,819,329 shares of the company’s stock worth $202,671,000 after purchasing an additional 2,446,452 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Global-e Online by 1,236.7% in the second quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock worth $140,576,000 after purchasing an additional 6,448,167 shares during the last quarter. Temasek Holdings Private Ltd grew its holdings in Global-e Online by 31.0% in the first quarter. Temasek Holdings Private Ltd now owns 2,112,000 shares of the company’s stock worth $68,070,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC grew its holdings in Global-e Online by 0.5% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 1,871,288 shares of the company’s stock worth $38,623,000 after purchasing an additional 10,139 shares during the last quarter. 59.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on GLBE shares. Benchmark began coverage on shares of Global-e Online in a report on Monday, August 7th. They issued a “buy” rating and a $50.00 price target on the stock. Morgan Stanley decreased their target price on shares of Global-e Online from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 9th. Jefferies Financial Group boosted their target price on shares of Global-e Online from $40.00 to $45.00 in a research report on Tuesday, August 8th. Piper Sandler restated an “overweight” rating and set a $54.00 target price on shares of Global-e Online in a research report on Wednesday, August 9th. Finally, Needham & Company LLC boosted their target price on shares of Global-e Online from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Global-e Online currently has a consensus rating of “Moderate Buy” and an average target price of $45.67.
Global-e Online Trading Up 2.5 %
Shares of Global-e Online stock traded up $0.91 during trading hours on Friday, reaching $37.62. The stock had a trading volume of 1,439,500 shares, compared to its average volume of 1,318,553. The stock’s 50 day moving average is $40.58 and its 200 day moving average is $35.16. The firm has a market capitalization of $6.18 billion, a PE ratio of -35.16 and a beta of 1.33. Global-e Online Ltd. has a twelve month low of $18.14 and a twelve month high of $45.72.
Global-e Online (NASDAQ:GLBE – Get Free Report) last released its earnings results on Tuesday, August 8th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The business had revenue of $133.31 million during the quarter, compared to analysts’ expectations of $128.79 million. Global-e Online had a negative net margin of 34.58% and a negative return on equity of 18.57%. The company’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.31) earnings per share. As a group, sell-side analysts predict that Global-e Online Ltd. will post -0.89 earnings per share 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.
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