Rhumbline Advisers Purchases 1,123 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Rhumbline Advisers boosted its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,418 shares of the company’s stock after acquiring an additional 1,123 shares during the quarter. Rhumbline Advisers’ holdings in Global-E Online were worth $1,713,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after purchasing an additional 533,675 shares during the last quarter. Eventide Asset Management LLC increased its position in Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after buying an additional 580,450 shares during the last quarter. State Street Corp increased its position in Global-E Online by 3.7% during the third quarter. State Street Corp now owns 1,550,647 shares of the company’s stock worth $59,607,000 after buying an additional 55,760 shares during the last quarter. Fred Alger Management LLC bought a new position in Global-E Online during the third quarter valued at about $53,493,000. Finally, FMR LLC boosted its stake in shares of Global-E Online by 4.1% during the 3rd quarter. FMR LLC now owns 979,371 shares of the company’s stock worth $37,647,000 after acquiring an additional 38,597 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Stock Performance

Shares of GLBE opened at $39.76 on Wednesday. The company has a 50-day simple moving average of $54.71 and a 200-day simple moving average of $46.29. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $63.69. The firm has a market capitalization of $6.53 billion, a P/E ratio of -90.36, a P/E/G ratio of 4.61 and a beta of 1.23.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating 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 prior year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 41.8% on a year-over-year basis. As a group, equities analysts forecast that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLBE. Benchmark cut their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. JMP Securities lifted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Piper Sandler raised their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.58.

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.