Wealth Effects LLC Has $528,000 Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Wealth Effects LLC raised its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 78.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,550 shares of the company’s stock after acquiring an additional 6,400 shares during the quarter. Wealth Effects LLC’s holdings in Global-E Online were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GLBE. Contour Asset Management LLC acquired a new position in shares of Global-E Online during the fourth quarter valued at $57,816,000. Nikko Asset Management Americas Inc. boosted its stake in shares of Global-E Online by 10.8% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock valued at $88,037,000 after purchasing an additional 217,415 shares during the last quarter. SRS Investment Management LLC acquired a new stake in shares of Global-E Online during the 4th quarter worth approximately $25,071,000. Bain Capital Public Equity Management II LLC raised its stake in shares of Global-E Online by 76.2% during the fourth quarter. Bain Capital Public Equity Management II LLC now owns 992,842 shares of the company’s stock worth $39,346,000 after buying an additional 429,367 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Global-E Online by 10.0% in the first quarter. Sei Investments Co. now owns 262,603 shares of the company’s stock valued at $9,546,000 after buying an additional 23,823 shares during the period. 94.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GLBE has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Bank of America dropped their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 15th. KeyCorp reduced their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 target price on shares of Global-E Online in a research report on Monday, July 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of Global-E Online in a research report on Wednesday, July 10th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Global-E Online has a consensus rating of “Buy” and a consensus price target of $42.82.

Global-E Online Stock Performance

NASDAQ GLBE traded down $0.28 during trading hours on Wednesday, reaching $32.96. 23,486 shares of the company’s stock were exchanged, compared to its average volume of 1,150,259. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of -44.92 and a beta of 1.10. The company’s 50-day moving average is $34.65 and its two-hundred day moving average is $33.60. Global-E Online Ltd. has a one year low of $27.30 and a one year high of $42.88.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data 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 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 firm’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. Research analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current fiscal 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.