Sei Investments Co. Acquires 94,154 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Sei Investments Co. increased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 29.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 414,578 shares of the company’s stock after purchasing an additional 94,154 shares during the quarter. Sei Investments Co.’s holdings in Global-E Online were worth $22,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. TimesSquare Capital Management LLC lifted its stake in Global-E Online by 6.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock valued at $42,043,000 after acquiring an additional 45,739 shares during the period. Fred Alger Management LLC purchased a new position in shares of Global-E Online during the third quarter valued at approximately $53,493,000. 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. Meitav Investment House Ltd. purchased a new stake in Global-E Online in the fourth quarter worth approximately $454,000. Finally, Amundi grew its position in Global-E Online by 126.9% in the 4th quarter. Amundi now owns 788,542 shares of the company’s stock worth $41,619,000 after purchasing an additional 440,953 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Trading Down 2.7 %

Shares of NASDAQ:GLBE opened at $37.24 on Thursday. The stock has a 50 day moving average of $49.44 and a 200 day moving average of $46.61. The company has a market cap of $6.12 billion, a PE ratio of -84.64, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 12-month low of $28.11 and a 12-month high of $63.69.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $262.91 million during the quarter, compared to analyst estimates of $250.96 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 41.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Equities research analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GLBE shares. Needham & Company LLC reissued a “buy” rating and set a $64.00 price target on shares of Global-E Online in a report on Wednesday, March 12th. KeyCorp increased their target price on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. UBS Group cut their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Wells Fargo & Company lowered their price objective on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler boosted their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $58.33.

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.