CenterBook Partners LP Purchases 79,690 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

CenterBook Partners LP raised its position in Global-e Online Ltd. (NASDAQ:GLBE) by 527.7% in the first quarter, HoldingsChannel reports. The fund owned 94,791 shares of the company’s stock after purchasing an additional 79,690 shares during the quarter. CenterBook Partners LP’s holdings in Global-e Online were worth $3,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fred Alger Management LLC grew its position in Global-e Online by 204.6% in the 4th quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company’s stock valued at $231,178,000 after purchasing an additional 2,847,868 shares during the period. Jennison Associates LLC lifted its stake in shares of Global-e Online by 33,950.1% in the first quarter. Jennison Associates LLC now owns 1,418,526 shares of the company’s stock valued at $50,570,000 after buying an additional 1,414,360 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Global-e Online during the fourth quarter valued at about $40,146,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Global-e Online during the fourth quarter worth about $27,231,000. Finally, Marshall Wace LLP raised its holdings in shares of Global-e Online by 951.2% in the 4th quarter. Marshall Wace LLP now owns 437,421 shares of the company’s stock worth $23,853,000 after acquiring an additional 395,809 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Performance

Shares of NASDAQ:GLBE opened at $34.81 on Thursday. The company has a market capitalization of $5.91 billion, a P/E ratio of -96.69, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company’s 50-day moving average is $33.07 and its 200 day moving average is $38.79. 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 announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. As a group, research analysts predict that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLBE. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Global-e Online in a research note on Thursday, May 15th. Truist Financial lifted their target price on Global-e Online from $31.00 to $32.00 and gave the company a “sell” rating in a research report on Thursday, July 17th. Wells Fargo & Company decreased their price target on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. Benchmark dropped 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $42.00 target price on shares of Global-e Online in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat, Global-e Online has an average rating of “Moderate Buy” and an average price target of $48.08.

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.