APG Asset Management N.V. Buys Shares of 10,444 Global-E Online Ltd. (NASDAQ:GLBE)

APG Asset Management N.V. purchased a new stake in Global-E Online Ltd. (NASDAQ:GLBE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,444 shares of the company’s stock, valued at approximately $353,000.

Several other large investors have also modified their holdings of the business. Capital World Investors lifted its stake in Global-E Online by 581.5% in the 4th quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock valued at $123,072,000 after buying an additional 2,649,873 shares in the last quarter. Brown Capital Management LLC acquired a new position in shares of Global-E Online in the first quarter worth $69,352,000. Contour Asset Management LLC purchased a new stake in shares of Global-E Online in the fourth quarter valued at $57,816,000. Hood River Capital Management LLC acquired a new stake in shares of Global-E Online during the second quarter valued at $36,182,000. Finally, Kodai Capital Management LP increased its position in 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 purchasing an additional 848,375 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Thursday, August 15th. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of Global-E Online in a report on Wednesday, July 10th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price objective on shares of Global-E Online in a report on Monday, July 1st. Finally, Piper Sandler dropped their target price on Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $42.82.

Global-E Online Stock Down 3.2 %

GLBE stock opened at $37.20 on Wednesday. Global-E Online Ltd. has a 52 week low of $27.30 and a 52 week high of $42.88. The company has a market cap of $6.11 billion, a price-to-earnings ratio of -50.27 and a beta of 1.09. The business has a fifty day simple moving average of $34.90 and a 200-day simple moving average of $33.92.

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. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The company had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. During the same period last year, the business posted ($0.22) EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, analysts expect that Global-E Online Ltd. will post -0.5 earnings per share 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.