Migdal Insurance & Financial Holdings Ltd. Boosts Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 461,000 shares of the company’s stock after buying an additional 10,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Global-E Online were worth $17,721,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Clearbridge Investments LLC acquired a new stake in Global-E Online during the second quarter valued at approximately $83,036,000. Brown Capital Management LLC acquired a new stake in Global-E Online in the first quarter worth approximately $69,352,000. Capital World Investors lifted its position in shares of Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock valued at $181,150,000 after acquiring an additional 1,877,953 shares during the last quarter. Dragoneer Investment Group LLC increased its stake in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in Global-E Online during the second quarter worth $36,182,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Trading Up 0.7 %

NASDAQ:GLBE traded up $0.27 on Friday, hitting $40.05. The company had a trading volume of 611,238 shares, compared to its average volume of 787,583. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of -61.62 and a beta of 1.10. The firm has a 50 day moving average of $37.37 and a two-hundred day moving average of $34.50. Global-E Online Ltd. has a 52 week low of $27.30 and a 52 week high of $42.88.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. During the same period in the prior year, the company posted ($0.22) EPS. The company’s revenue was up 26.0% on a year-over-year basis. As a group, equities analysts forecast that Global-E Online Ltd. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on GLBE. Bank of America reduced their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. UBS Group reduced their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Piper Sandler reaffirmed a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Friday, October 18th. Finally, KeyCorp decreased their price target on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating and ten 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 target price of $43.09.

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.