CIBC Asset Management Inc Purchases 1,225 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

CIBC Asset Management Inc lifted its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 13.0% during the 4th quarter, HoldingsChannel reports. The firm owned 10,645 shares of the company’s stock after acquiring an additional 1,225 shares during the period. CIBC Asset Management Inc’s holdings in Global-E Online were worth $580,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GLBE. Mount Yale Investment Advisors LLC bought a new stake in shares of Global-E Online during the third quarter valued at approximately $323,000. Mediolanum International Funds Ltd purchased a new position in Global-E Online during the third quarter valued at $315,000. Focus Financial Network Inc. raised its stake in Global-E Online by 11.2% during the third quarter. Focus Financial Network Inc. now owns 6,899 shares of the company’s stock valued at $265,000 after buying an additional 694 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Global-E Online during the third quarter valued at $362,000. Finally, Van ECK Associates Corp raised its stake in Global-E Online by 1.6% during the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock valued at $1,235,000 after buying an additional 508 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Price Performance

Shares of GLBE opened at $45.07 on Friday. Global-E Online Ltd. has a one year low of $28.11 and a one year high of $63.69. The firm has a market capitalization of $7.40 billion, a P/E ratio of -102.43, a PEG ratio of 4.61 and a beta of 1.23. The business has a fifty day moving average of $56.49 and a 200 day moving average of $45.75.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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 in the previous year, the company posted $0.22 earnings per share. Global-E Online’s revenue was up 41.8% compared to the same quarter last year. Analysts expect that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GLBE. Benchmark lowered 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 Thursday. The Goldman Sachs Group lifted their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Jefferies Financial Group lifted their price objective on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. UBS Group lowered 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. Finally, Needham & Company LLC boosted their price target on Global-E Online from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.58.

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.