Mitsubishi UFJ Asset Management Co. Ltd. Buys 18,300 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Global-E Online Ltd. (NASDAQ:GLBE) by 27.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 85,100 shares of the company’s stock after purchasing an additional 18,300 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of Global-E Online worth $4,679,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Global-E Online by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company’s stock worth $2,735,000 after purchasing an additional 6,485 shares in the last quarter. FMR LLC lifted its position in Global-E Online by 4.1% during the 3rd quarter. FMR LLC now owns 979,371 shares of the company’s stock worth $37,647,000 after buying an additional 38,597 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Global-E Online by 23.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after acquiring an additional 10,000 shares during the last quarter. Quarry LP increased its position in Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after acquiring an additional 1,585 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of Global-E Online in the third quarter worth about $252,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Stock Up 1.0 %

GLBE opened at $35.99 on Wednesday. The company has a fifty day simple moving average of $47.82 and a 200 day simple moving average of $46.68. The stock has a market cap of $5.91 billion, a P/E ratio of -81.80, a P/E/G ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings data 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 business had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same quarter in the previous year, the business posted $0.22 EPS. Global-E Online’s revenue for the quarter was up 41.8% on a year-over-year basis. On average, equities research analysts expect that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on GLBE. Benchmark dropped their price objective on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Piper Sandler lifted their target price on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. UBS Group dropped their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $64.00 target price on shares of Global-E Online in a research note on Wednesday, March 12th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Global-E Online currently 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.