Arrowstreet Capital Limited Partnership Takes Position in Global-E Online Ltd. (NASDAQ:GLBE)

Arrowstreet Capital Limited Partnership bought a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 341,893 shares of the company’s stock, valued at approximately $18,643,000.

Several other institutional investors have also recently added to or reduced their stakes in GLBE. Fifth Third Bancorp lifted its position in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after buying an additional 197 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Global-E Online in the fourth quarter valued at $59,000. Whipplewood Advisors LLC acquired a new position in Global-E Online in the fourth quarter valued at $65,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Global-E Online during the fourth quarter worth about $99,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $55.00 to $46.00 in a research report on Wednesday, March 26th. The Goldman Sachs Group lowered their target price on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price target on shares of Global-E Online in a research report on Wednesday, March 12th. Benchmark lowered their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, UBS Group reduced their target price 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. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online has a consensus rating of “Buy” and a consensus target price of $57.00.

Global-E Online Stock Down 9.0 %

Shares of NASDAQ:GLBE opened at $29.18 on Friday. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $63.69. The company has a 50-day moving average price of $46.39 and a 200 day moving average price of $46.46. The company has a market cap of $4.79 billion, a P/E ratio of -66.32, a PEG ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last posted 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 business had revenue of $262.91 million during the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current 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.