Sei Investments Co. Buys 94,154 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Sei Investments Co. increased its position in Global-E Online Ltd. (NASDAQ:GLBE) by 29.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 414,578 shares of the company’s stock after acquiring an additional 94,154 shares during the quarter. Sei Investments Co. owned about 0.25% of Global-E Online worth $22,607,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fred Alger Management LLC purchased a new stake in Global-E Online in the 3rd quarter worth approximately $53,493,000. SG Americas Securities LLC increased its holdings in shares of Global-E Online by 5,939.0% in the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after purchasing an additional 625,855 shares during the period. Eventide Asset Management LLC raised its position in shares of Global-E Online by 59.1% in the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock worth $60,091,000 after buying an additional 580,450 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Global-E Online by 40.7% during the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after buying an additional 533,675 shares during the period. Finally, Amundi grew its position in Global-E Online by 126.9% during the fourth quarter. Amundi now owns 788,542 shares of the company’s stock worth $41,619,000 after buying an additional 440,953 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Trading Down 2.7 %

NASDAQ GLBE opened at $37.24 on Thursday. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $63.69. The stock’s fifty day moving average price is $49.44 and its 200-day moving average price is $46.61. The stock has a market cap of $6.12 billion, a P/E ratio of -84.64, a P/E/G ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company 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%. Global-E Online’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 EPS. As a group, analysts forecast that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GLBE has been the subject of a number of research reports. KeyCorp boosted their price target on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. The Goldman Sachs Group increased their target price on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $55.00 to $46.00 in a report on Wednesday. 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, UBS Group reduced their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $58.33.

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.