Global-E Online Ltd. (NASDAQ:GLBE) Position Raised by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,268,618 shares of the company’s stock after buying an additional 34,391 shares during the period. Clearbridge Investments LLC’s holdings in Global-E Online were worth $123,708,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares during the period. Geneos Wealth Management Inc. lifted its position in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Global-E Online during the fourth quarter valued at $59,000. Whipplewood Advisors LLC acquired a new stake in shares of Global-E Online during the 4th quarter valued at about $65,000. Finally, SBI Securities Co. Ltd. bought a new stake in Global-E Online in the fourth quarter worth approximately $99,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GLBE. KeyCorp boosted their target price on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $55.00 to $46.00 in a report on Wednesday, March 26th. Wells Fargo & Company dropped their target price on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Benchmark decreased their price target 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, The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $58.33.

Global-E Online Stock Performance

Shares of Global-E Online stock opened at $35.68 on Monday. 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 capitalization of $5.86 billion, a price-to-earnings ratio of -81.09, a PEG ratio of 4.61 and a beta of 1.30. The firm has a fifty day moving average of $48.65 and a two-hundred day moving average of $46.69.

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, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, research analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current fiscal 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.