Global-E Online Ltd. (NASDAQ:GLBE) Shares Bought by RiverPark Advisors LLC

RiverPark Advisors LLC increased its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 146.3% during the third quarter, Holdings Channel reports. The institutional investor owned 6,036 shares of the company’s stock after acquiring an additional 3,585 shares during the period. RiverPark Advisors LLC’s holdings in Global-E Online were worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GLBE. Sei Investments Co. raised its position in Global-E Online by 10.0% during the first quarter. Sei Investments Co. now owns 262,603 shares of the company’s stock worth $9,546,000 after acquiring an additional 23,823 shares during the last quarter. Russell Investments Group Ltd. raised its position in Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after acquiring an additional 780 shares during the last quarter. ProShare Advisors LLC raised its position in Global-E Online by 61.9% during the first quarter. ProShare Advisors LLC now owns 61,724 shares of the company’s stock worth $2,244,000 after acquiring an additional 23,611 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Global-E Online by 3.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,279 shares of the company’s stock worth $1,755,000 after acquiring an additional 1,523 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new position in Global-E Online during the first quarter worth about $604,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Piper Sandler reissued a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research report on Thursday, August 15th. Morgan Stanley lowered 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 research report on Friday, October 18th. Finally, KeyCorp cut 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.30.

Global-E Online Trading Down 1.8 %

GLBE opened at $40.30 on Friday. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $43.52. The company has a 50 day moving average of $38.16 and a two-hundred day moving average of $34.78.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $168.00 million during the quarter, compared to the consensus estimate of $165.95 million. During the same period in the previous year, the firm earned ($0.22) earnings per share. Global-E Online’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, research analysts expect that Global-E Online Ltd. will post -0.5 EPS 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.