Siemens Fonds Invest GmbH Invests $124,000 in Global-E Online Ltd. (NASDAQ:GLBE)

Siemens Fonds Invest GmbH bought a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,267 shares of the company’s stock, valued at approximately $124,000.

A number of other large investors have also modified their holdings of the business. Fred Alger Management LLC grew its holdings in shares of Global-E Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after buying an additional 2,847,868 shares in the last quarter. Contour Asset Management LLC grew its holdings in shares of Global-E Online by 9.1% in the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock valued at $144,336,000 after purchasing an additional 220,519 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Global-E Online by 1.5% in the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock valued at $123,708,000 after purchasing an additional 34,391 shares during the period. American Century Companies Inc. grew its holdings in shares of Global-E Online by 9.1% in the fourth quarter. American Century Companies Inc. now owns 1,209,833 shares of the company’s stock valued at $65,972,000 after purchasing an additional 100,445 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Global-E Online by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 972,025 shares of the company’s stock valued at $52,809,000 after purchasing an additional 38,549 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Morgan Stanley raised shares of 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 report on Wednesday, March 26th. UBS Group dropped their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Global-E Online in a report on Thursday. Benchmark dropped their price objective on shares of Global-E Online from $61.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Raymond James dropped their price objective on shares of Global-E Online from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online presently has an average rating of “Buy” and an average price target of $49.42.

Global-E Online Price Performance

Shares of GLBE stock opened at $33.04 on Monday. The firm has a market cap of $5.59 billion, a PE ratio of -75.09, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. The company has a 50-day moving average of $35.34 and a two-hundred day moving average of $45.84. Global-E Online Ltd. has a 1-year low of $26.64 and a 1-year high of $63.69.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $189.88 million during the quarter, compared to analyst estimates of $187.84 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online’s revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) earnings per share. Sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 EPS for the current fiscal 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.