Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,529 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,779 shares of the company’s stock after buying an additional 1,529 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Global-E Online were worth $1,297,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the period. CIBC Asset Management Inc grew its position in Global-E Online by 4.4% during the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after buying an additional 393 shares during the period. Juncture Wealth Strategies LLC grew its position in Global-E Online by 3.9% during the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after buying an additional 494 shares during the period. Daiwa Securities Group Inc. grew its position in Global-E Online by 6.8% during the third quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock valued at $300,000 after buying an additional 500 shares during the period. Finally, Clay Northam Wealth Management LLC grew its position in Global-E Online by 3.0% during the fourth quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock valued at $1,256,000 after buying an additional 675 shares during the period. Institutional investors own 94.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GLBE shares. The Goldman Sachs Group increased their price target on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 10th. JMP Securities increased their target price on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $64.00 target price on shares of Global-E Online in a research report on Wednesday, March 12th. KeyCorp increased their target price on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, UBS Group cut their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Global-E Online currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.08.

Global-E Online Trading Down 2.0 %

Shares of Global-E Online stock opened at $36.32 on Wednesday. Global-E Online Ltd. has a 12-month low of $28.11 and a 12-month high of $63.69. The company has a market cap of $5.97 billion, a price-to-earnings ratio of -82.55, a PEG ratio of 4.61 and a beta of 1.30. The company’s 50-day moving average price is $51.35 and its 200-day moving average price is $46.51.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The company’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, sell-side analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current 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.