BIT Capital GmbH Buys Shares of 20,419 Global-E Online Ltd. (NASDAQ:GLBE)

BIT Capital GmbH purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,419 shares of the company’s stock, valued at approximately $1,113,000.

Several other institutional investors have also recently made changes to their positions in GLBE. Fred Alger Management LLC acquired a new stake in Global-E Online during the third quarter worth $53,493,000. SG Americas Securities LLC grew its holdings in shares of Global-E Online by 5,939.0% during the 4th quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after purchasing an additional 625,855 shares during the period. Eventide Asset Management LLC increased its position in shares of Global-E Online by 59.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after purchasing an additional 580,450 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after buying an additional 533,675 shares during the period. Finally, Amundi lifted its position in Global-E Online by 126.9% in the fourth quarter. Amundi now owns 788,542 shares of the company’s stock valued at $41,619,000 after buying an additional 440,953 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GLBE shares. The Goldman Sachs Group lifted their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Benchmark dropped 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 Thursday, February 20th. Piper Sandler upped their price target on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. UBS Group dropped their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $64.00 target price on shares of Global-E Online in a research note on Wednesday, March 12th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $58.33.

Global-E Online Price Performance

Shares of NASDAQ GLBE opened at $37.24 on Thursday. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -84.64, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. The stock’s 50-day moving average is $49.44 and its two-hundred day moving average is $46.61. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm had revenue of $262.91 million for the quarter, compared to analyst estimates of $250.96 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 41.8% compared to the same quarter last year. Equities research analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal 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.