61,207 Shares in Global-E Online Ltd. (NASDAQ:GLBE) Bought by USS Investment Management Ltd

USS Investment Management Ltd bought a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 61,207 shares of the company’s stock, valued at approximately $3,336,000.

Several other large investors have also added to or reduced their stakes in the business. Fifth Third Bancorp boosted its holdings in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Global-E Online by 2.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after purchasing an additional 200 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Global-E Online by 1.3% during the fourth quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock worth $930,000 after purchasing an additional 227 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Global-E Online by 1.6% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock worth $908,000 after purchasing an additional 260 shares during the last quarter. Finally, Juncture Wealth Strategies LLC boosted its holdings in Global-E Online by 3.9% during the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock worth $718,000 after purchasing an additional 494 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GLBE. Piper Sandler restated an “overweight” rating and set a $42.00 target price on shares of Global-E Online in a report on Wednesday, May 14th. The Goldman Sachs Group dropped their price target on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $64.00 price target on shares of Global-E Online in a research report on Thursday, May 15th. KeyCorp dropped their price target on shares of Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group dropped their price target on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $49.42.

Global-E Online Price Performance

Shares of GLBE opened at $31.58 on Friday. The firm has a market capitalization of $5.36 billion, a PE ratio of -71.77, a PEG ratio of 4.61 and a beta of 1.36. The company’s 50-day moving average is $34.87 and its 200-day moving average is $45.51. Global-E Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company 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%. The company’s revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. Analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

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.