Mackenzie Financial Corp Invests $250,000 in Global-E Online Ltd. (NASDAQ:GLBE)

Mackenzie Financial Corp acquired a new stake in Global-E Online Ltd. (NASDAQ:GLBE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,901 shares of the company’s stock, valued at approximately $250,000.

A number of other large investors have also recently added to or reduced their stakes in GLBE. Toronto Dominion Bank purchased a new position in Global-E Online during the second quarter worth about $40,000. RiverPark Advisors LLC boosted its position in shares of Global-E Online by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after purchasing an additional 2,858 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in Global-E Online in the 4th quarter valued at approximately $141,000. DekaBank Deutsche Girozentrale raised its position in Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after purchasing an additional 624 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Global-E Online by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after purchasing an additional 780 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Price Performance

NASDAQ:GLBE opened at $35.95 on Tuesday. Global-E Online Ltd. has a 12 month low of $27.30 and a 12 month high of $42.88. The firm has a market capitalization of $5.90 billion, a PE ratio of -48.16 and a beta of 1.10. The business’s fifty day moving average price is $35.05 and its 200 day moving average price is $33.94.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.22) EPS. As a group, equities analysts anticipate that Global-E Online Ltd. will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GLBE shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Thursday, August 15th. KeyCorp cut their price target on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 price objective on shares of Global-E Online in a research note on Monday, July 1st. Piper Sandler cut their target price on shares of 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. Finally, Bank of America decreased their price target on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $42.82.

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.