Oppenheimer Asset Management Inc. Grows Position in Global-E Online Ltd. (NASDAQ:GLBE)

Oppenheimer Asset Management Inc. boosted its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 29.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,724 shares of the company’s stock after buying an additional 3,383 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Global-E Online were worth $534,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Global-E Online in the 4th quarter valued at approximately $33,175,000. PNC Financial Services Group Inc. raised its position in Global-E Online by 75.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 25,448 shares of the company’s stock valued at $1,009,000 after purchasing an additional 10,967 shares during the period. Aigen Investment Management LP acquired a new position in Global-E Online during the fourth quarter worth $290,000. Intech Investment Management LLC purchased a new position in shares of Global-E Online during the fourth quarter worth $233,000. Finally, Yelin Lapidot Holdings Management Ltd. grew its stake in shares of Global-E Online by 294.9% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 187,466 shares of the company’s stock valued at $7,429,000 after buying an additional 139,992 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

GLBE has been the topic of several research reports. 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 note on Thursday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Thursday, August 15th. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 target price on shares of Global-E Online in a research note on Wednesday, July 10th. Morgan Stanley raised their price target on shares of Global-E Online from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 target price on shares of Global-E Online in a report on Monday, July 1st. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online presently has an average rating of “Buy” and an average target price of $42.82.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $38.05 on Friday. Global-E Online Ltd. has a 1 year low of $27.30 and a 1 year high of $42.88. The stock has a market cap of $6.25 billion, a P/E ratio of -51.42 and a beta of 1.09. The stock has a 50-day simple moving average of $34.60 and a 200-day simple moving average of $33.68.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $165.95 million. During the same period in the prior year, the company posted ($0.22) earnings per share. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts predict that Global-E Online Ltd. will post -0.5 EPS for the current year.

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.