Capital International Investors Acquires 339,591 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Capital International Investors grew its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 51.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,003,229 shares of the company’s stock after acquiring an additional 339,591 shares during the period. Capital International Investors owned 0.61% of Global-E Online worth $36,467,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GLBE. Capital World Investors lifted its stake in shares of Global-E Online by 581.5% in the fourth quarter. Capital World Investors now owns 3,105,532 shares of the company’s stock worth $123,072,000 after buying an additional 2,649,873 shares during the last quarter. Contour Asset Management LLC acquired a new position in shares of Global-E Online in the 4th quarter valued at $57,816,000. Norges Bank bought a new stake in shares of Global-E Online in the 4th quarter worth about $33,175,000. SRS Investment Management LLC bought a new stake in shares of Global-E Online in the 4th quarter worth about $25,071,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Global-E Online in the 4th quarter worth about $21,849,000. 94.60% of the stock is owned by institutional investors.

Global-E Online Stock Up 0.9 %

Shares of NASDAQ GLBE traded up $0.31 during trading hours on Friday, reaching $34.82. 589,385 shares of the stock traded hands, compared to its average volume of 1,148,184. The company’s 50-day simple moving average is $33.17 and its two-hundred day simple moving average is $34.72. Global-E Online Ltd. has a 52-week low of $27.30 and a 52-week high of $45.28. The company has a market capitalization of $5.72 billion, a P/E ratio of -47.05 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The firm had revenue of $145.90 million for the quarter, compared to analyst estimates of $141.55 million. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the company earned ($0.26) EPS. As a group, sell-side analysts forecast that Global-E Online Ltd. will post -0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GLBE has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a report on Tuesday, May 21st. Morgan Stanley increased their price target on shares of Global-E Online from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 target price on shares of Global-E Online in a report on Monday, July 1st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $40.00 price target on shares of Global-E Online in a research note on Monday, April 1st. Finally, Benchmark reissued a “buy” rating and issued a $41.00 target price on shares of Global-E Online in a research note on Tuesday, May 21st. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $43.58.

Global-E Online Company 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.