Global-E Online Ltd. (NASDAQ:GLBE) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its position in Global-E Online Ltd. (NASDAQ:GLBE) by 79.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,837 shares of the company’s stock after purchasing an additional 13,678 shares during the quarter. Truist Financial Corp’s holdings in Global-E Online were worth $1,682,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GLBE. Fifth Third Bancorp increased its position in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Global-E Online during the third quarter worth about $32,000. Geneos Wealth Management Inc. increased its position in shares of Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Global-E Online during the third quarter valued at about $87,000. Finally, Quarry LP raised its stake in shares of Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after acquiring an additional 1,585 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Down 2.7 %

Shares of Global-E Online stock opened at $42.59 on Friday. The company has a market capitalization of $7.00 billion, a P/E ratio of -96.80, a P/E/G ratio of 4.61 and a beta of 1.23. The company has a 50 day moving average of $55.54 and a 200 day moving average of $45.94. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $63.69.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The firm had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s revenue was up 41.8% compared to the same quarter last year. As a group, research analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, February 18th. UBS Group dropped their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. KeyCorp raised their target price on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Piper Sandler boosted their price target on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC increased their price target on shares of Global-E Online from $55.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Global-E Online has an average rating of “Moderate Buy” and a consensus price target of $59.58.

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.