Global-E Online Ltd. (NASDAQ:GLBE) Shares Bought by DnB Asset Management AS

DnB Asset Management AS raised its position in Global-E Online Ltd. (NASDAQ:GLBE) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,933 shares of the company’s stock after purchasing an additional 1,170 shares during the period. DnB Asset Management AS’s holdings in Global-E Online were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Global-E Online by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company’s stock worth $2,735,000 after acquiring an additional 6,485 shares in the last quarter. FMR LLC raised its holdings in Global-E Online by 4.1% during the third quarter. FMR LLC now owns 979,371 shares of the company’s stock worth $37,647,000 after purchasing an additional 38,597 shares in the last quarter. Public Sector Pension Investment Board lifted its position 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 buying an additional 10,000 shares during the last quarter. Quarry LP grew its position in shares of Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after buying an additional 1,585 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in Global-E Online during the 3rd quarter worth $252,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. KeyCorp raised their price objective on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Benchmark cut their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of Global-E Online in a report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased 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 research note on Wednesday, March 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online currently has a consensus rating of “Buy” and an average target price of $57.00.

Global-E Online Stock Up 4.1 %

Shares of Global-E Online stock opened at $37.48 on Thursday. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of -85.18, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $63.69. The company’s 50-day simple moving average is $47.43 and its 200-day simple moving average is $46.61.

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

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.