Trexquant Investment LP Takes $6.55 Million Position in Global-E Online Ltd. (NASDAQ:GLBE)

Trexquant Investment LP purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 120,090 shares of the company’s stock, valued at approximately $6,549,000.

A number of other large investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Global-E Online in 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 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after acquiring an additional 625,855 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after acquiring an additional 533,675 shares during the period. Amundi raised its stake in shares of Global-E Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company’s stock valued at $41,619,000 after acquiring an additional 440,953 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Global-E Online during the fourth quarter worth about $18,643,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Stock Performance

Shares of NASDAQ GLBE opened at $29.18 on Friday. The company has a 50 day simple moving average of $46.39 and a two-hundred day simple moving average of $46.46. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of -66.32, a P/E/G ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The company had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 million. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up 41.8% on a year-over-year basis. On average, analysts forecast that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GLBE has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. KeyCorp lifted their price target on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Benchmark decreased 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 Thursday, February 20th. UBS Group cut their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Wells Fargo & Company decreased their price target on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $57.00.

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.