Harbor Capital Advisors Inc. Takes $362,000 Position in Global-E Online Ltd. (NASDAQ:GLBE)

Harbor Capital Advisors Inc. purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,422 shares of the company’s stock, valued at approximately $362,000.

A number of other institutional investors have also added to or reduced their stakes in GLBE. American International Group Inc. grew its holdings in shares of Global-E Online by 3.2% in the first quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after acquiring an additional 484 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Global-E Online by 7.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after purchasing an additional 500 shares during the period. CIBC Asset Management Inc increased its position in shares of Global-E Online by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 9,027 shares of the company’s stock valued at $327,000 after purchasing an additional 547 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Global-E Online by 18.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares during the period. Finally, Lombard Odier Asset Management USA Corp boosted its holdings in shares of Global-E Online by 6.2% in the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,782 shares of the company’s stock worth $391,000 after buying an additional 632 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GLBE. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a report on Friday, October 18th. UBS Group lowered 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 report on Friday, October 18th. KeyCorp reduced their price objective on Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Bank of America dropped their price target on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Piper Sandler reissued a “buy” rating on shares of Global-E Online in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Global-E Online currently has a consensus rating of “Moderate Buy” and an average target price of $43.09.

Global-E Online Stock Up 0.2 %

NASDAQ:GLBE opened at $39.78 on Friday. The stock has a market cap of $6.53 billion, a P/E ratio of -61.20 and a beta of 1.10. The business’s 50-day moving average price is $37.13 and its two-hundred day moving average price is $34.41. Global-E Online Ltd. has a twelve month low of $27.30 and a twelve month high of $42.88.

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