Swiss National Bank Decreases Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Swiss National Bank lessened its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 7.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 276,520 shares of the company’s stock after selling 22,400 shares during the quarter. Swiss National Bank’s holdings in Global-E Online were worth $15,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after purchasing an additional 748 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Global-E Online during the 4th quarter valued at approximately $59,000. Whipplewood Advisors LLC bought a new position in Global-E Online in the 4th quarter worth approximately $65,000. Finally, SBI Securities Co. Ltd. purchased a new position in Global-E Online in the 4th quarter valued at approximately $99,000. Institutional investors own 94.60% of the company’s stock.

Analyst Ratings Changes

GLBE has been the topic of several recent research reports. Raymond James increased their target price on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. KeyCorp raised their target price on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. JMP Securities upped their price target on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and issued a $64.00 price objective on shares of Global-E Online in a research report on Wednesday, March 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

Global-E Online Stock Performance

Global-E Online stock opened at $37.46 on Thursday. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The stock has a market cap of $6.15 billion, a P/E ratio of -85.14, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. The firm’s fifty day moving average price is $51.05 and its 200-day moving average price is $46.45.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results 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 business had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was up 41.8% on a year-over-year basis. On average, analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

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.