Lord Abbett & CO. LLC Buys Shares of 736,221 Global-E Online Ltd. (NASDAQ:GLBE)

Lord Abbett & CO. LLC purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 736,221 shares of the company’s stock, valued at approximately $40,146,000. Lord Abbett & CO. LLC owned about 0.45% of Global-E Online as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Global-E Online in the fourth quarter valued at $38,875,000. SG Americas Securities LLC boosted its position 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 valued at $34,703,000 after purchasing an additional 625,855 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 worth $70,979,000 after purchasing an additional 533,675 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in Global-E Online in the fourth quarter worth approximately $27,231,000. Finally, Amundi lifted its stake 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 period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GLBE. Piper Sandler lowered their price objective on shares of Global-E Online from $62.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday. Benchmark dropped their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reduced their target price on Global-E Online from $64.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group reduced their price objective on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $51.33.

Global-E Online Stock Down 0.3 %

NASDAQ GLBE opened at $36.22 on Friday. The company’s 50 day moving average is $37.00 and its 200-day moving average is $45.89. The firm has a market cap of $6.13 billion, a P/E ratio of -82.32, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $250.96 million. During the same period in the previous year, the business earned $0.22 EPS. The business’s revenue for the quarter was up 41.8% on a year-over-year basis. Equities analysts expect that Global-E Online Ltd. will post 0.25 EPS 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.