10,444 Shares in Global-E Online Ltd. (NASDAQ:GLBE) Acquired by APG Asset Management N.V.

APG Asset Management N.V. purchased a new stake in Global-E Online Ltd. (NASDAQ:GLBE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,444 shares of the company’s stock, valued at approximately $353,000.

Other hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new stake in shares of Global-E Online during the second quarter worth about $40,000. RiverPark Advisors LLC increased its position in Global-E Online by 360.9% during 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. acquired a new position in Global-E Online during the fourth quarter worth approximately $141,000. DekaBank Deutsche Girozentrale lifted its stake in Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after buying an additional 624 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings 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 valued at $215,000 after acquiring an additional 780 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-E Online Stock Down 3.2 %

Shares of GLBE opened at $37.20 on Wednesday. Global-E Online Ltd. has a 52-week low of $27.30 and a 52-week high of $42.88. The company has a 50-day simple moving average of $34.90 and a 200-day simple moving average of $33.92. The company has a market capitalization of $6.11 billion, a PE ratio of -50.27 and a beta of 1.09.

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, beating analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $168.00 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the firm earned ($0.22) EPS. On average, research analysts anticipate that Global-E Online Ltd. will post -0.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 price target on shares of Global-E Online in a research report on Monday, July 1st. Piper Sandler decreased 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 note on Thursday, August 15th. Needham & Company LLC restated a “buy” rating and issued a $48.00 price target 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 price objective on shares of Global-E Online in a research report on Wednesday, July 10th. Finally, Bank of America reduced their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Global-E Online currently 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.