Arcadia Investment Management Corp MI Invests $59,000 in Global-E Online Ltd. (NASDAQ:GLBE)

Arcadia Investment Management Corp MI purchased a new stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,087 shares of the company’s stock, valued at approximately $59,000.

Several other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares during the period. Eventide Asset Management LLC raised its stake in shares of Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after buying an additional 580,450 shares during the last quarter. State Street Corp lifted its holdings in Global-E Online by 3.7% in the third quarter. State Street Corp now owns 1,550,647 shares of the company’s stock valued at $59,607,000 after buying an additional 55,760 shares during the period. Fred Alger Management LLC bought a new position in Global-E Online in the third quarter valued at approximately $53,493,000. Finally, FMR LLC grew its holdings in Global-E Online by 4.1% during the 3rd quarter. FMR LLC now owns 979,371 shares of the company’s stock worth $37,647,000 after acquiring an additional 38,597 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of GLBE opened at $45.07 on Friday. The firm has a market cap of $7.40 billion, a P/E ratio of -102.43, a PEG ratio of 5.03 and a beta of 1.23. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $63.69. The firm’s 50 day moving average price is $56.49 and its two-hundred day moving average price is $45.65.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.60%. The firm’s revenue was up 41.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. On average, sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GLBE. KeyCorp increased their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. JMP Securities increased their target price on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. Benchmark decreased their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group upped their price target on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Piper Sandler lifted their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.58.

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.