Avantax Advisory Services Inc. Buys New Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Avantax Advisory Services Inc. bought a new stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the fourth quarter, HoldingsChannel reports. The fund bought 3,965 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors also recently made changes to their positions in GLBE. Fifth Third Bancorp boosted its stake in shares of Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Global-E Online by 2.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after purchasing an additional 200 shares during the last quarter. Juncture Wealth Strategies LLC grew its holdings in shares of Global-E Online by 3.9% during the fourth quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock worth $718,000 after buying an additional 494 shares in the last quarter. Clay Northam Wealth Management LLC raised its position in shares of Global-E Online by 3.0% in the fourth quarter. Clay Northam Wealth Management LLC now owns 23,030 shares of the company’s stock valued at $1,256,000 after buying an additional 675 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Global-E Online by 1,968.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after buying an additional 748 shares during the period. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-E Online Stock Performance

NASDAQ GLBE opened at $37.24 on Thursday. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of -84.64, a PEG ratio of 4.61 and a beta of 1.30. Global-E Online Ltd. has a one year low of $28.11 and a one year high of $63.69. The company’s 50 day moving average price is $49.44 and its 200 day moving average price is $46.61.

Global-E Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. Sell-side analysts forecast that Global-E Online Ltd. will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLBE has been the subject of several recent analyst reports. 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 note on Monday, February 10th. Benchmark lowered their price objective on 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. Wells Fargo & Company reduced their target price on Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group lifted their price target on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $55.00 to $46.00 in a report on Wednesday. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global-E Online currently has an average rating of “Buy” and a consensus price target of $58.33.

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.