Charles Schwab Investment Management Inc. Increases Position in Global-E Online Ltd. (NASDAQ:GLBE)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 73,032 shares of the company’s stock after acquiring an additional 1,881 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Global-E Online were worth $3,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Fifth Third Bancorp grew its stake in Global-E Online by 69.1% in the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Global-E Online during the fourth quarter valued at about $59,000. Whipplewood Advisors LLC purchased a new stake in Global-E Online during the fourth quarter worth about $65,000. Finally, SBI Securities Co. Ltd. bought a new stake in Global-E Online in the fourth quarter worth about $99,000. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $37.24 on Thursday. The business’s fifty day moving average is $49.44 and its 200 day moving average is $46.61. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of -84.64, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $63.69.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GLBE. KeyCorp increased their target price on shares of Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. The Goldman Sachs Group increased their price objective on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. UBS Group decreased their target price on 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. Piper Sandler upped their price target on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $55.00 to $46.00 in a report on Wednesday. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Global-E Online has a consensus rating of “Buy” and a consensus target price of $58.33.

About Global-E Online

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.