Daiwa Securities Group Inc. Purchases 500 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Daiwa Securities Group Inc. increased its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,300 shares of the company’s stock after purchasing an additional 500 shares during the period. Daiwa Securities Group Inc.’s holdings in Global-E Online were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Global-E Online in the 4th quarter worth about $141,000. RiverPark Advisors LLC raised its position in Global-E Online by 360.9% during the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock valued at $133,000 after purchasing an additional 2,858 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after purchasing an additional 624 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Global-E Online in the 4th quarter worth approximately $233,000. Finally, Russell Investments Group Ltd. increased its position in shares of Global-E Online by 15.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after purchasing an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Trading Up 2.7 %

Shares of Global-E Online stock opened at $37.80 on Wednesday. The stock’s fifty day moving average price is $34.55 and its 200-day moving average price is $33.63. The firm has a market cap of $6.21 billion, a P/E ratio of -51.08 and a beta of 1.09. Global-E Online Ltd. has a 12 month low of $27.30 and a 12 month high of $42.88.

Global-E Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $168.00 million for the quarter, compared to the consensus estimate of $165.95 million. During the same quarter last year, the firm posted ($0.22) EPS. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. Analysts forecast that Global-E Online Ltd. will post -0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Global-E Online in a research note on Monday, July 1st. JMP Securities reiterated a “market outperform” rating and set a $46.00 price target on shares of Global-E Online in a report on Wednesday, July 10th. Morgan Stanley raised their price objective on shares of Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. KeyCorp cut their target price on 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. Finally, Piper Sandler dropped their price objective on Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Global-E Online has an average rating of “Buy” and a consensus price target of $42.82.

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.