Blueshift Asset Management LLC Invests $499,000 in Global-E Online Ltd. (NASDAQ:GLBE)

Blueshift Asset Management LLC purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the 4th quarter, HoldingsChannel reports. The firm purchased 9,145 shares of the company’s stock, valued at approximately $499,000.

Several other hedge funds also recently modified their holdings of the business. Fifth Third Bancorp increased its stake 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 purchasing an additional 197 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Global-E Online by 2.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after buying an additional 200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Global-E Online by 1.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock worth $908,000 after buying an additional 260 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Global-E Online by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after buying an additional 393 shares during the period. Finally, Juncture Wealth Strategies LLC boosted its holdings in shares of Global-E Online by 3.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock worth $718,000 after buying an additional 494 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. The Goldman Sachs Group upped their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Morgan Stanley upped their price objective on shares of Global-E Online from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 18th. Benchmark decreased their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Wells Fargo & Company reduced their price target on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Global-E Online presently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

Global-E Online Stock Performance

Shares of GLBE stock opened at $36.84 on Friday. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $63.69. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of -83.73, a P/E/G ratio of 4.61 and a beta of 1.30. The firm has a fifty day moving average of $50.73 and a 200-day moving average of $46.38.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter in the prior year, the company posted $0.22 EPS. The business’s revenue was up 41.8% on a year-over-year basis. On average, sell-side analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

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.