Mitsubishi UFJ Asset Management Co. Ltd. Purchases 18,300 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Global-E Online Ltd. (NASDAQ:GLBE) by 27.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 85,100 shares of the company’s stock after acquiring an additional 18,300 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Global-E Online were worth $4,679,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after acquiring an additional 533,675 shares during the last quarter. State Street Corp increased its position in shares of Global-E Online by 3.7% during the 3rd quarter. State Street Corp now owns 1,550,647 shares of the company’s stock worth $59,607,000 after purchasing an additional 55,760 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Global-E Online by 9.1% during the 4th quarter. American Century Companies Inc. now owns 1,209,833 shares of the company’s stock worth $65,972,000 after purchasing an additional 100,445 shares in the last quarter. FMR LLC boosted its holdings in shares of Global-E Online by 4.1% in the 3rd quarter. FMR LLC now owns 979,371 shares of the company’s stock valued at $37,647,000 after buying an additional 38,597 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Global-E Online by 3.4% in the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock valued at $35,722,000 after buying an additional 30,995 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Stock Up 1.0 %

NASDAQ GLBE opened at $35.99 on Wednesday. The firm has a 50-day moving average price of $47.82 and a two-hundred day moving average price of $46.68. Global-E Online Ltd. has a 12-month low of $28.11 and a 12-month high of $63.69. The company has a market capitalization of $5.91 billion, a P/E ratio of -81.80, a P/E/G ratio of 4.61 and a beta of 1.30.

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

Wall Street Analyst Weigh In

A number of analysts have commented on GLBE shares. UBS Group cut 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 research note on Friday, February 21st. Piper Sandler lifted their price target on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. The Goldman Sachs Group lifted their target price 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of Global-E Online in a research note on Wednesday, March 12th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online presently has an average rating of “Buy” and a consensus target price of $58.33.

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.