DekaBank Deutsche Girozentrale Buys 2,071 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

DekaBank Deutsche Girozentrale increased its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 51.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,081 shares of the company’s stock after acquiring an additional 2,071 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Global-E Online were worth $224,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GLBE. Capital World Investors grew its holdings in Global-E Online by 60.5% during the first quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after purchasing an additional 1,877,953 shares during the last quarter. Eventide Asset Management LLC grew its stake in Global-E Online by 0.5% in the 4th quarter. Eventide Asset Management LLC now owns 2,464,197 shares of the company’s stock valued at $97,656,000 after buying an additional 13,350 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Global-E Online by 16.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,956,990 shares of the company’s stock valued at $71,137,000 after buying an additional 270,949 shares during the last quarter. Brown Capital Management LLC bought a new position in Global-E Online in the 1st quarter worth $69,352,000. Finally, Contour Asset Management LLC acquired a new position in Global-E Online during the 4th quarter worth $57,816,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Performance

Shares of GLBE stock opened at $38.05 on Friday. The firm has a fifty day moving average of $34.60 and a 200-day moving average of $33.68. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -51.42 and a beta of 1.09. Global-E Online Ltd. has a 52-week low of $27.30 and a 52-week high of $42.88.

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

Analyst Ratings Changes

A number of research firms have recently commented on GLBE. Morgan Stanley lifted their price objective on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. KeyCorp dropped their price target on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report 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 report 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 report on Wednesday, July 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 price target 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.com, Global-E Online 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.