RiverPark Advisors LLC Increases Position in Global-E Online Ltd. (NASDAQ:GLBE)

RiverPark Advisors LLC boosted its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 146.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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.

Several other large investors also recently bought and sold shares of GLBE. Sei Investments Co. lifted its holdings in shares of Global-E Online by 10.0% in the 1st 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. increased its stake in Global-E Online by 15.2% during the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after buying an additional 780 shares during the period. ProShare Advisors LLC increased its stake in Global-E Online by 61.9% during the 1st quarter. ProShare Advisors LLC now owns 61,724 shares of the company’s stock worth $2,244,000 after buying an additional 23,611 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Global-E Online by 3.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,279 shares of the company’s stock worth $1,755,000 after buying an additional 1,523 shares during the period. Finally, Cedar Wealth Management LLC purchased a new stake in Global-E Online during the 1st quarter worth approximately $604,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLBE has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Morgan Stanley downgraded shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. 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. KeyCorp dropped their price objective on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Finally, 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. One equities 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, the company has an average rating of “Moderate Buy” and an average target price of $43.30.

Global-E Online Trading Down 1.8 %

Shares of NASDAQ:GLBE opened at $40.30 on Friday. The firm has a fifty day moving average price of $38.16 and a 200 day moving average price of $34.78. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $43.52.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. Global-E Online’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.22) EPS. On average, research analysts forecast that Global-E Online Ltd. will post -0.5 EPS for the current fiscal year.

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.