Global-E Online Ltd. (NASDAQ:GLBE) Shares Purchased by Raymond James & Associates

Raymond James & Associates increased its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 344.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,802 shares of the company’s stock after purchasing an additional 37,821 shares during the quarter. Raymond James & Associates’ holdings in Global-E Online were worth $1,934,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Morgan Stanley lifted its holdings in shares of Global-E Online by 18.2% during the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock worth $628,984,000 after purchasing an additional 2,438,737 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Global-E Online by 1,236.7% during the 2nd 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Global-E Online by 14.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company’s stock worth $86,871,000 after purchasing an additional 280,936 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Global-E Online by 3.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,824,925 shares of the company’s stock worth $72,523,000 after purchasing an additional 52,945 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Global-E Online by 19.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,675,845 shares of the company’s stock worth $66,598,000 after purchasing an additional 268,427 shares in the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on GLBE. Wells Fargo & Company restated an “overweight” rating and set a $40.00 target price on shares of Global-E Online in a research report on Monday, April 1st. The Goldman Sachs Group boosted their target price on shares of Global-E Online from $36.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Piper Sandler restated an “overweight” rating and set a $50.00 target price on shares of Global-E Online in a research report on Thursday, February 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Global-E Online currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Global-E Online Trading Down 1.5 %

Shares of GLBE stock opened at $33.43 on Thursday. The firm has a 50-day moving average price of $35.82 and a 200 day moving average price of $36.44. Global-E Online Ltd. has a twelve month low of $26.01 and a twelve month high of $45.72. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of -41.27 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Global-E Online had a negative net margin of 23.48% and a negative return on equity of 19.33%. The firm had revenue of $185.40 million during the quarter, compared to analyst estimates of $181.74 million. During the same period in the previous year, the firm posted ($0.18) EPS. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, research analysts predict that Global-E Online Ltd. will post -0.5 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.