ARK Investment Management LLC Acquires 73,753 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

ARK Investment Management LLC lifted its position in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,133,401 shares of the company’s stock after acquiring an additional 73,753 shares during the period. ARK Investment Management LLC owned approximately 0.69% of Global-e Online worth $44,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of Global-e Online by 18.2% during the 3rd quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock worth $628,984,000 after acquiring an additional 2,438,737 shares during the period. Goldman Sachs Group Inc. increased its position in Global-e Online by 1,236.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock worth $140,576,000 after purchasing an additional 6,448,167 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Global-e Online by 14.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company’s stock worth $86,871,000 after purchasing an additional 280,936 shares in the last quarter. Lord Abbett & CO. LLC increased its position in Global-e Online by 3.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,824,925 shares of the company’s stock worth $72,523,000 after purchasing an additional 52,945 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Global-e Online by 19.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,675,845 shares of the company’s stock worth $66,598,000 after purchasing an additional 268,427 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLBE. Piper Sandler reiterated an “overweight” rating and set a $50.00 price objective on shares of Global-e Online in a research report on Thursday, February 22nd. The Goldman Sachs Group upped their price target on shares of Global-e Online from $36.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Wells Fargo & Company decreased their price target on shares of Global-e Online from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Global-e Online in a research report on Thursday, February 22nd. Finally, JMP Securities restated a “market outperform” rating and issued a $46.00 price target on shares of Global-e Online in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Global-e Online Trading Down 0.2 %

GLBE opened at $36.22 on Thursday. Global-e Online Ltd. has a twelve month low of $26.01 and a twelve month high of $45.72. The company has a fifty day moving average of $36.81 and a 200-day moving average of $36.77.

Global-e Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Global-e Online had a negative return on equity of 14.58% and a negative net margin of 23.48%. The firm had revenue of $185.40 million for the quarter, compared to analyst estimates of $181.74 million. During the same quarter last year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. As a group, analysts forecast that Global-e Online Ltd. will post -0.5 EPS 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.