Handelsbanken Fonder AB Grows Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Handelsbanken Fonder AB grew its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 5.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 79,991 shares of the company’s stock after acquiring an additional 4,121 shares during the period. Handelsbanken Fonder AB’s holdings in Global-E Online were worth $2,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fred Alger Management LLC lifted its stake in Global-E Online by 204.6% during the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock worth $231,178,000 after purchasing an additional 2,847,868 shares during the last quarter. Contour Asset Management LLC lifted its stake in Global-E Online by 9.1% during the fourth quarter. Contour Asset Management LLC now owns 2,646,906 shares of the company’s stock worth $144,336,000 after purchasing an additional 220,519 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Global-E Online by 1.5% during the fourth quarter. Clearbridge Investments LLC now owns 2,268,618 shares of the company’s stock worth $123,708,000 after purchasing an additional 34,391 shares during the last quarter. Spyglass Capital Management LLC lifted its stake in Global-E Online by 6.8% during the fourth quarter. Spyglass Capital Management LLC now owns 1,487,335 shares of the company’s stock worth $81,104,000 after purchasing an additional 94,664 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Global-E Online by 9.1% during the fourth quarter. American Century Companies Inc. now owns 1,209,833 shares of the company’s stock worth $65,972,000 after purchasing an additional 100,445 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLBE has been the topic of several research analyst reports. UBS Group reduced their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Benchmark reduced their price objective on Global-E Online from $61.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Truist Financial initiated coverage on Global-E Online in a research note on Monday, June 2nd. They set a “sell” rating and a $31.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Global-E Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Finally, Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $55.00 to $46.00 in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Global-E Online Stock Performance

Shares of GLBE opened at $31.97 on Friday. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -72.66, a price-to-earnings-growth ratio of 4.61 and a beta of 1.26. Global-E Online Ltd. has a one year low of $26.64 and a one year high of $63.69. The stock’s fifty day moving average is $34.15 and its 200-day moving average is $44.36.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.56% and a negative net margin of 10.04%. The company’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period last year, the company earned ($0.19) earnings per share. Analysts forecast that Global-E Online Ltd. will post 0.25 EPS 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.