Global-E Online Ltd. (NASDAQ:GLBE) Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 739,580 shares of the company’s stock after purchasing an additional 80,880 shares during the period. TimesSquare Capital Management LLC’s holdings in Global-E Online were worth $29,310,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. RiverPark Advisors LLC purchased a new stake in shares of Global-E Online during the third quarter valued at $26,000. DekaBank Deutsche Girozentrale purchased a new stake in Global-E Online during the 3rd quarter valued at about $126,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Global-E Online in the third quarter valued at about $175,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Global-E Online in the third quarter worth about $219,000. Finally, Yousif Capital Management LLC acquired a new stake in shares of Global-E Online during the third quarter worth about $223,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GLBE. Piper Sandler reiterated an “overweight” rating and issued a $50.00 price target on shares of Global-E Online in a report on Thursday, February 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $40.00 target price on shares of Global-E Online in a report on Monday, April 1st. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research report on Friday, April 5th. Finally, The Goldman Sachs Group increased their price target on Global-E Online from $36.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Global-E Online Trading Down 8.7 %

Shares of Global-E Online stock traded down $2.83 during trading hours on Wednesday, reaching $29.86. The stock had a trading volume of 3,260,383 shares, compared to its average volume of 1,103,986. The stock’s 50 day moving average is $34.38 and its 200 day moving average is $36.07. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $45.72. The firm has a market capitalization of $4.90 billion, a PE ratio of -36.86 and a beta of 1.13.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The business had revenue of $185.40 million for the quarter, compared to analysts’ expectations of $181.74 million. During the same quarter in the prior year, the company posted ($0.18) EPS. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, sell-side analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current year.

Global-E Online 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.