Envestnet Portfolio Solutions Inc. Buys New Shares in Global-E Online Ltd. (NASDAQ:GLBE)

Envestnet Portfolio Solutions Inc. bought a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,397 shares of the company’s stock, valued at approximately $294,000.

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

Wall Street Analysts Forecast Growth

GLBE has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $64.00 price target on shares of Global-E Online in a research report on Wednesday, March 12th. The Goldman Sachs Group lifted their price objective on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. Benchmark lowered their target price on shares of Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. UBS Group cut their price target on Global-E Online from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Wells Fargo & Company lowered their price objective on Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $58.33.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE opened at $36.72 on Friday. The company has a market capitalization of $6.03 billion, a P/E ratio of -83.45, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30. The company’s 50-day moving average is $49.06 and its 200 day moving average is $46.54. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $63.69.

Global-E Online (NASDAQ:GLBE) last released its earnings results 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. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The firm had revenue of $262.91 million for the quarter, compared to analysts’ expectations of $250.96 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 41.8% on a year-over-year basis. As a group, research analysts predict that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Global-E Online 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.