Kayne Anderson Rudnick Investment Management LLC Grows Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 30.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,639,490 shares of the company’s stock after purchasing an additional 378,827 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 1.00% of Global-E Online worth $59,464,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. RiverPark Advisors LLC raised its stake in shares of Global-E Online by 360.9% in the first 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 period. Ables Iannone Moore & Associates Inc. bought a new stake in Global-E Online during the 4th quarter worth approximately $141,000. DekaBank Deutsche Girozentrale lifted its holdings in Global-E Online by 18.4% during 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 in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Global-E Online by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after purchasing an additional 780 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Global-E Online in the second quarter worth $220,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GLBE shares. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research note on Thursday, August 15th. KeyCorp cut their target price on 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. 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. JMP Securities reiterated a “market outperform” rating and set a $46.00 price objective on shares of Global-E Online in a research report on Wednesday, July 10th. Finally, Piper Sandler dropped their target price on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online presently has an average rating of “Buy” and a consensus target price of $42.82.

Global-E Online Stock Performance

Shares of GLBE stock opened at $38.05 on Friday. The stock has a 50 day moving average price of $34.62 and a 200 day moving average price of $33.72. Global-E Online Ltd. has a 52-week low of $27.30 and a 52-week high of $42.88. The firm has a market capitalization of $6.25 billion, a P/E ratio of -51.42 and a beta of 1.09.

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 company had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. During the same period in the previous year, the company earned ($0.22) EPS. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, sell-side analysts forecast that Global-E Online Ltd. will post -0.5 EPS for the current year.

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.