Allspring Global Investments Holdings LLC Has $71.14 Million Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Allspring Global Investments Holdings LLC boosted its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,956,990 shares of the company’s stock after purchasing an additional 270,949 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.19% of Global-E Online worth $71,137,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Global-E Online during the 4th quarter valued at $141,000. Intech Investment Management LLC acquired a new position in shares of Global-E Online in the 4th quarter valued at $233,000. J.W. Cole Advisors Inc. acquired a new position in shares of Global-E Online in the 4th quarter valued at $243,000. OneAscent Financial Services LLC raised its stake in shares of Global-E Online by 15.6% in the 4th quarter. OneAscent Financial Services LLC now owns 6,528 shares of the company’s stock valued at $259,000 after buying an additional 880 shares in the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new position in shares of Global-E Online in the 4th quarter valued at $259,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Stock Down 1.7 %

Shares of NASDAQ:GLBE opened at $36.33 on Wednesday. Global-E Online Ltd. has a 12 month low of $27.30 and a 12 month high of $45.72. The company’s 50-day moving average price is $31.60 and its two-hundred day moving average price is $35.10. The firm has a market cap of $5.97 billion, a P/E ratio of -49.09 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. Global-E Online had a negative net margin of 20.52% and a negative return on equity of 18.05%. The firm had revenue of $145.90 million for the quarter, compared to analyst estimates of $141.55 million. During the same quarter in the prior year, the firm earned ($0.26) EPS. The company’s revenue was up 24.1% on a year-over-year basis. As a group, equities analysts predict that Global-E Online Ltd. will post -0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GLBE has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Tuesday, May 21st. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, May 21st. The Goldman Sachs Group restated a “buy” rating and issued a $43.00 price objective on shares of Global-E Online in a research note on Monday. JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of Global-E Online in a research note on Tuesday, May 28th. Finally, Bank of America upped their target price on shares of Global-E Online from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.58.

Global-E Online 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.