Daiwa Securities Group Inc. Grows Position in Global-E Online Ltd. (NASDAQ:GLBE)

Daiwa Securities Group Inc. boosted its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,300 shares of the company’s stock after buying an additional 500 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Global-E Online were worth $265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. bought a new position in Global-E Online during the fourth quarter valued at approximately $141,000. RiverPark Advisors LLC boosted its stake in shares of Global-E Online by 360.9% in the 1st quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after buying an additional 2,858 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares during the period. Intech Investment Management LLC purchased a new stake in Global-E Online during the fourth quarter valued at $233,000. Finally, Russell Investments Group Ltd. lifted its holdings 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 acquiring an additional 780 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-E Online Trading Up 2.7 %

NASDAQ:GLBE opened at $37.80 on Wednesday. The stock has a 50-day moving average price of $34.55 and a 200 day moving average price of $33.63. The stock has a market capitalization of $6.21 billion, a P/E ratio of -51.08 and a beta of 1.09. Global-E Online Ltd. has a 12-month low of $27.30 and a 12-month high of $42.88.

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

Analyst Ratings Changes

Several research firms have recently commented on GLBE. Bank of America reduced 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. Benchmark reiterated a “buy” rating and issued a $41.00 price target on shares of Global-E Online in a research report on Tuesday, May 21st. KeyCorp cut their price objective on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. 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 report on Thursday, August 15th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $43.00 price target on shares of Global-E Online in a report on Monday, July 1st. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online presently has a consensus rating of “Buy” and an average price target of $42.82.

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.