Counterpoint Mutual Funds LLC Acquires New Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Counterpoint Mutual Funds LLC acquired a new stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the fourth quarter, HoldingsChannel reports. The fund acquired 5,527 shares of the company’s stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares during the period. Eventide Asset Management LLC increased its holdings in Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after buying an additional 580,450 shares during the last quarter. State Street Corp increased its holdings in Global-E Online by 3.7% during the third quarter. State Street Corp now owns 1,550,647 shares of the company’s stock valued at $59,607,000 after buying an additional 55,760 shares during the last quarter. Fred Alger Management LLC purchased a new stake in Global-E Online during the third quarter valued at approximately $53,493,000. Finally, FMR LLC increased its holdings in Global-E Online by 4.1% during the third quarter. FMR LLC now owns 979,371 shares of the company’s stock valued at $37,647,000 after buying an additional 38,597 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

GLBE opened at $36.32 on Wednesday. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of -82.55, a PEG ratio of 4.61 and a beta of 1.30. The company has a fifty day moving average of $51.35 and a 200 day moving average of $46.51. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69.

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

Analysts Set New Price Targets

A number of analysts have commented on GLBE shares. Raymond James upped their target price on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Piper Sandler upped their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group increased their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective 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. Finally, Benchmark reduced 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 research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Global-E Online presently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

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.