Pictet Asset Management Holding SA Increases Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Pictet Asset Management Holding SA raised its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,825 shares of the company’s stock after acquiring an additional 3,838 shares during the period. Pictet Asset Management Holding SA’s holdings in Global-E Online were worth $2,335,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Global-E Online during the fourth quarter valued at approximately $38,875,000. BIT Capital GmbH bought a new position in Global-E Online in the 4th quarter valued at approximately $1,113,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Global-E Online by 27.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 85,100 shares of the company’s stock valued at $4,679,000 after acquiring an additional 18,300 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Global-E Online by 90.6% in the 4th quarter. LPL Financial LLC now owns 51,123 shares of the company’s stock worth $2,788,000 after purchasing an additional 24,304 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Global-E Online in the 4th quarter worth $370,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLBE has been the topic of a number of research analyst reports. Morgan Stanley raised Global-E Online from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. Piper Sandler upped their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $64.00 price target on shares of Global-E Online in a research note on Wednesday, March 12th. UBS Group lowered 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. Finally, KeyCorp lifted their target price on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Global-E Online presently has a consensus rating of “Buy” and a consensus price target of $57.00.

Global-E Online Stock Performance

NASDAQ GLBE opened at $29.18 on Friday. The business’s fifty day moving average is $46.39 and its 200 day moving average is $46.46. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69. The company has a market capitalization of $4.79 billion, a PE ratio of -66.32, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business’s quarterly revenue was up 41.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. On average, sell-side analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current year.

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.