341,893 Shares in Global-E Online Ltd. (NASDAQ:GLBE) Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership bought a new stake in Global-E Online Ltd. (NASDAQ:GLBE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 341,893 shares of the company’s stock, valued at approximately $18,643,000. Arrowstreet Capital Limited Partnership owned approximately 0.21% of Global-E Online as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp increased its holdings in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Global-E Online in the fourth quarter valued at $59,000. Whipplewood Advisors LLC acquired a new position in shares of Global-E Online in the 4th quarter valued at $65,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Global-E Online in the 4th quarter valued at $99,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GLBE shares. Needham & Company LLC restated a “buy” rating and issued a $64.00 price objective on shares of Global-E Online in a report on Wednesday, March 12th. Wells Fargo & Company reduced their price target on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. KeyCorp boosted their target price on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group lowered their price target on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $57.00.

Global-E Online Price Performance

Shares of NASDAQ GLBE opened at $29.18 on Friday. The company has a market cap of $4.79 billion, a price-to-earnings ratio of -66.32, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. The stock’s 50-day moving average is $46.39 and its two-hundred day moving average is $46.46. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 41.8% compared to the same quarter last year. Equities research analysts anticipate that Global-E Online Ltd. will post 0.25 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.