Fred Alger Management LLC Increases Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Fred Alger Management LLC boosted its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 204.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,239,470 shares of the company’s stock after acquiring an additional 2,847,868 shares during the quarter. Global-E Online comprises about 1.1% of Fred Alger Management LLC’s investment portfolio, making the stock its 16th biggest position. Fred Alger Management LLC owned 2.58% of Global-E Online worth $231,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TimesSquare Capital Management LLC lifted its holdings in Global-E Online by 6.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock valued at $42,043,000 after buying an additional 45,739 shares in the last quarter. Meitav Investment House Ltd. acquired a new position in shares of Global-E Online during the fourth quarter worth $454,000. Amundi raised its stake in Global-E Online by 126.9% in the fourth quarter. Amundi now owns 788,542 shares of the company’s stock valued at $41,619,000 after buying an additional 440,953 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Global-E Online in the 4th quarter worth approximately $802,000. Finally, Mount Yale Investment Advisors LLC lifted its stake in shares of Global-E Online by 143.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock worth $1,118,000 after buying an additional 12,094 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GLBE. Benchmark lowered their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Piper Sandler dropped their price target on shares of Global-E Online from $62.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. The Goldman Sachs Group decreased their price objective on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, KeyCorp reduced their price target on Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online presently has a consensus rating of “Buy” and an average price target of $51.33.

Global-E Online Trading Up 2.2 %

GLBE stock opened at $37.31 on Thursday. The stock has a 50-day moving average price of $35.62 and a two-hundred day moving average price of $45.81. The company has a market cap of $6.31 billion, a PE ratio of -84.80, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced 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 business had revenue of $262.91 million during the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. Equities analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Global-E Online Company 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.