Swiss National Bank Has $9.98 Million Position in Global-e Online Ltd. (NASDAQ:GLBE)

Swiss National Bank increased its position in Global-e Online Ltd. (NASDAQ:GLBE) by 1.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 279,920 shares of the company’s stock after acquiring an additional 3,400 shares during the period. Swiss National Bank’s holdings in Global-e Online were worth $9,979,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd increased its holdings in Global-e Online by 380.5% in the first quarter. Y.D. More Investments Ltd now owns 171,790 shares of the company’s stock worth $6,124,000 after buying an additional 136,040 shares during the last quarter. CenterBook Partners LP increased its holdings in Global-e Online by 527.7% in the first quarter. CenterBook Partners LP now owns 94,791 shares of the company’s stock worth $3,379,000 after buying an additional 79,690 shares during the last quarter. Headlands Technologies LLC acquired a new position in Global-e Online in the first quarter worth approximately $2,017,000. ASR Vermogensbeheer N.V. acquired a new position in Global-e Online in the first quarter worth approximately $122,000. Finally, J. Safra Sarasin Holding AG acquired a new position in Global-e Online in the first quarter worth approximately $1,434,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on GLBE shares. KeyCorp lowered their price target on Global-e Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Benchmark lowered their price target on Global-e Online from $61.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Zacks Research upgraded Global-e Online to a “hold” rating in a report on Friday, August 8th. Wells Fargo & Company lowered their price target on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $42.00 price target on shares of Global-e Online in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Global-e Online presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

Global-e Online Trading Up 0.7%

Shares of Global-e Online stock opened at $30.81 on Friday. The company’s fifty day simple moving average is $33.02 and its 200-day simple moving average is $37.60. The company has a market cap of $5.23 billion, a price-to-earnings ratio of -181.24, a PEG ratio of 1.71 and a beta of 1.24. Global-e Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $214.88 million for the quarter, compared to the consensus estimate of $207.95 million. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. Global-e Online’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) earnings per share. As a group, research analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal 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.