Van ECK Associates Corp Increases Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Van ECK Associates Corp raised its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,103 shares of the company’s stock after purchasing an additional 2,275 shares during the quarter. Van ECK Associates Corp’s holdings in Global-E Online were worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Fred Alger Management LLC purchased a new stake in shares of Global-E Online during the 3rd quarter worth approximately $53,493,000. JPMorgan Chase & Co. boosted 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 acquiring an additional 533,675 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of Global-E Online by 143.8% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after acquiring an additional 12,094 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Global-E Online by 23.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Global-E Online by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after acquiring an additional 30,995 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of GLBE opened at $46.63 on Friday. The stock has a fifty day moving average of $56.72 and a two-hundred day moving average of $45.56. The company has a market capitalization of $7.66 billion, a PE ratio of -80.40, a price-to-earnings-growth ratio of 6.37 and a beta of 1.23. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative return on equity of 15.05% and a negative net margin of 14.68%. Global-E Online’s revenue was up 41.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. As a group, equities research analysts forecast that Global-E Online Ltd. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on GLBE. Needham & Company LLC boosted their price target on Global-E Online from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp lifted their price objective on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Raymond James lifted their price objective on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group lifted their price objective on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Global-E Online has a consensus rating of “Moderate Buy” and an average target price of $58.25.

Global-E Online 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.