Global-E Online Ltd. (NASDAQ:GLBE) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in Global-E Online Ltd. (NASDAQ:GLBE) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,505 shares of the company’s stock after purchasing an additional 630 shares during the period. The Manufacturers Life Insurance Company’s holdings in Global-E Online were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new position in shares of Global-E Online in the fourth quarter worth about $40,146,000. Norges Bank purchased a new position in Global-E Online during the fourth quarter worth approximately $38,875,000. SG Americas Securities LLC grew its holdings in 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 valued at $34,703,000 after purchasing an additional 625,855 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Global-E Online in the fourth quarter valued at approximately $27,231,000. Finally, Amundi raised its stake in shares of Global-E Online by 126.9% during the 4th quarter. Amundi now owns 788,542 shares of the company’s stock worth $41,619,000 after buying an additional 440,953 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Trading Up 0.6 %

Global-E Online stock opened at $37.74 on Friday. The stock has a market cap of $6.38 billion, a P/E ratio of -85.77, a PEG ratio of 4.61 and a beta of 1.36. The company has a 50-day moving average price of $35.51 and a 200 day moving average price of $45.85. 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 released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS 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 net margin of 10.04% and a negative return on equity of 8.56%. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Benchmark lowered their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. UBS Group reduced their target price on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC lowered their price target on Global-E Online from $64.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online currently has a consensus rating of “Buy” and an average price target of $51.33.

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.