Bank of Hawaii Buys Shares of 11,530 Global-E Online Ltd. (NASDAQ:GLBE)

Bank of Hawaii bought a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the fourth quarter, HoldingsChannel.com reports. The firm bought 11,530 shares of the company’s stock, valued at approximately $629,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Global-E Online in the 4th quarter valued at $38,875,000. SG Americas Securities LLC increased its holdings in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after acquiring an additional 625,855 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $70,979,000 after acquiring an additional 533,675 shares in the last quarter. Amundi raised its position in shares of Global-E Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company’s stock worth $41,619,000 after purchasing an additional 440,953 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Global-E Online during the 4th quarter valued at about $18,643,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Stock Performance

GLBE opened at $34.20 on Friday. The business’s 50-day simple moving average is $43.15 and its 200 day simple moving average is $46.24. The firm has a market capitalization of $5.78 billion, a PE ratio of -77.73, a PEG ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 52-week low of $26.64 and a 52-week high of $63.69.

Global-E Online (NASDAQ:GLBE) last released 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 company had revenue of $262.91 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. On average, research analysts forecast that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. KeyCorp increased their target price on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler raised their price objective on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. UBS Group cut their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of Global-E Online in a report on Wednesday, March 12th. Finally, Wells Fargo & Company cut their price target on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $57.00.

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.