Whitebark Investors LP Invests $17.02 Million in Global-E Online Ltd. (NASDAQ:GLBE)

Whitebark Investors LP purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 312,173 shares of the company’s stock, valued at approximately $17,023,000. Global-E Online accounts for approximately 7.9% of Whitebark Investors LP’s investment portfolio, making the stock its 5th biggest holding. Whitebark Investors LP owned approximately 0.19% of Global-E Online as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after purchasing an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Global-E Online in the fourth quarter worth $59,000. Whipplewood Advisors LLC bought a new stake in Global-E Online in the fourth quarter worth $65,000. Finally, SBI Securities Co. Ltd. acquired a new position in Global-E Online during the fourth quarter worth $99,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Stock Down 1.1%

Shares of NASDAQ:GLBE opened at $32.68 on Tuesday. Global-E Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The business has a 50 day moving average of $35.22 and a 200-day moving average of $45.80. The stock has a market cap of $5.55 billion, a PE ratio of -74.27, a P/E/G ratio of 4.61 and a beta of 1.36.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 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 revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.19) earnings per share. Equities research analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GLBE shares. Piper Sandler reiterated an “overweight” rating and set a $42.00 price target on shares of Global-E Online in a report on Wednesday, May 14th. JMP Securities reaffirmed a “market outperform” rating and set a $64.00 price objective on shares of Global-E Online in a report on Thursday, May 15th. KeyCorp lowered their target price on shares of Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. UBS Group cut 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 research report on Friday, February 21st. Finally, Raymond James decreased their price target on shares of Global-E Online from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online has a consensus rating of “Buy” and an average price target of $49.42.

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.