69,356 Shares in Global-E Online Ltd. (NASDAQ:GLBE) Acquired by Tidal Investments LLC

Tidal Investments LLC purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 69,356 shares of the company’s stock, valued at approximately $2,521,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC grew its position in Global-E Online by 31.2% during the 1st quarter. Global Retirement Partners LLC now owns 1,650 shares of the company’s stock worth $60,000 after acquiring an additional 392 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Global-E Online during the 4th quarter worth approximately $141,000. RiverPark Advisors LLC grew its position in Global-E Online by 360.9% during the 1st quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock worth $133,000 after acquiring an additional 2,858 shares during the last quarter. Intech Investment Management LLC bought a new position in Global-E Online during the 4th quarter worth approximately $233,000. Finally, Russell Investments Group Ltd. grew its position in Global-E Online by 15.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after acquiring an additional 780 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GLBE. Morgan Stanley lifted their price objective on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Benchmark reiterated a “buy” rating and issued a $41.00 price objective on shares of Global-E Online in a research report on Tuesday, May 21st. Bank of America lifted their price objective on Global-E Online from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Tuesday, May 21st. Finally, Piper Sandler cut their price objective on Global-E Online from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $43.58.

Global-E Online Stock Performance

Shares of NASDAQ GLBE traded down $0.95 during mid-day trading on Thursday, hitting $33.37. 221,947 shares of the stock traded hands, compared to its average volume of 1,140,738. Global-E Online Ltd. has a 52 week low of $27.30 and a 52 week high of $44.17. The company has a market cap of $5.48 billion, a price-to-earnings ratio of -46.38 and a beta of 1.10. The stock has a fifty day moving average price of $33.39 and a 200-day moving average price of $34.57.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The business had revenue of $145.90 million during the quarter, compared to analysts’ expectations of $141.55 million. Global-E Online had a negative return on equity of 18.05% and a negative net margin of 20.52%. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.26) earnings per share. As a group, sell-side analysts predict that Global-E Online Ltd. will post -0.53 EPS for the current fiscal 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.