Acadian Asset Management LLC Takes Position in Global-E Online Ltd. (NASDAQ:GLBE)

Acadian Asset Management LLC acquired a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,092 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Summit Creek Advisors LLC acquired a new position in Global-E Online during the second quarter worth $11,449,000. TD Asset Management Inc grew its holdings in Global-E Online by 4.7% during the second quarter. TD Asset Management Inc now owns 30,304 shares of the company’s stock worth $1,099,000 after acquiring an additional 1,373 shares during the period. Wealth Effects LLC grew its holdings in Global-E Online by 78.5% during the second quarter. Wealth Effects LLC now owns 14,550 shares of the company’s stock worth $528,000 after acquiring an additional 6,400 shares during the period. CIBC Asset Management Inc grew its holdings in Global-E Online by 6.5% during the second quarter. CIBC Asset Management Inc now owns 9,027 shares of the company’s stock worth $327,000 after acquiring an additional 547 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Global-E Online by 7.2% during the second quarter. Van ECK Associates Corp now owns 32,320 shares of the company’s stock worth $1,172,000 after acquiring an additional 2,161 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GLBE. Bank of America decreased their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Thursday, August 15th. KeyCorp decreased their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley boosted their target price on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Piper Sandler decreased their target price on Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Global-E Online currently has a consensus rating of “Buy” and a consensus target price of $42.82.

Global-E Online Stock Up 0.2 %

Shares of NASDAQ:GLBE opened at $38.05 on Friday. Global-E Online Ltd. has a 52-week low of $27.30 and a 52-week high of $42.88. The stock’s fifty day simple moving average is $34.60 and its 200-day simple moving average is $33.68. The company has a market capitalization of $6.25 billion, a P/E ratio of -51.28 and a beta of 1.09.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The firm had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. During the same period in the prior year, the business posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, sell-side analysts anticipate 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.