Public Sector Pension Investment Board Has $1.52 Million Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Public Sector Pension Investment Board lifted its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,950 shares of the company’s stock after purchasing an additional 2,862 shares during the quarter. Public Sector Pension Investment Board’s holdings in Global-E Online were worth $1,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Capital World Investors increased its position in Global-E Online by 581.5% during the fourth quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock worth $123,072,000 after buying an additional 2,649,873 shares during the last quarter. Brown Capital Management LLC acquired a new position in Global-E Online during the first quarter valued at approximately $69,352,000. Contour Asset Management LLC bought a new position in shares of Global-E Online in the fourth quarter valued at approximately $57,816,000. Hood River Capital Management LLC acquired a new stake in shares of Global-E Online in the second quarter worth $36,182,000. Finally, Kodai Capital Management LP boosted its holdings in shares of Global-E Online by 184.9% during the 1st quarter. Kodai Capital Management LP now owns 1,307,194 shares of the company’s stock worth $47,517,000 after buying an additional 848,375 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-E Online Price Performance

Shares of GLBE stock opened at $38.44 on Tuesday. Global-E Online Ltd. has a one year low of $27.30 and a one year high of $42.88. The stock has a fifty day moving average price of $34.87 and a 200 day moving average price of $33.89. The stock has a market cap of $6.31 billion, a P/E ratio of -51.95 and a beta of 1.09.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The company had revenue of $168.00 million during the quarter, compared to the consensus estimate of $165.95 million. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.22) EPS. Equities research analysts anticipate that Global-E Online Ltd. will post -0.5 EPS for the current year.

Analyst Upgrades and Downgrades

GLBE has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. The Goldman Sachs Group reissued a “buy” rating and set a $43.00 price objective on shares of Global-E Online in a research report on Monday, July 1st. KeyCorp lowered their target price on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Morgan Stanley upped their price target on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of Global-E Online in a research note on Wednesday, July 10th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.82.

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.