The Manufacturers Life Insurance Company Buys 900 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

The Manufacturers Life Insurance Company boosted its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 36,359 shares of the company’s stock after acquiring an additional 900 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Global-E Online were worth $1,319,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Toronto Dominion Bank bought a new position in shares of Global-E Online during the second quarter valued at $40,000. RiverPark Advisors LLC raised its stake in shares of 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 acquiring an additional 2,858 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Global-E Online during the fourth quarter valued at $141,000. DekaBank Deutsche Girozentrale raised its stake in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after acquiring an additional 780 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

GLBE has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Global-E Online in a research note on Monday, July 1st. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Thursday, August 15th. Piper Sandler decreased their price objective on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Bank of America decreased their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, KeyCorp decreased their price objective on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $42.82.

Global-E Online Trading Up 3.0 %

NASDAQ:GLBE opened at $38.10 on Friday. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -51.49 and a beta of 1.10. The firm has a fifty day simple moving average of $35.43 and a two-hundred day simple moving average of $33.99. 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 quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $165.95 million. During the same period last year, the company posted ($0.22) earnings per share. The business’s quarterly revenue was up 26.0% on a year-over-year basis. Equities analysts predict that Global-E Online Ltd. will post -0.5 earnings per share for the current fiscal year.

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.