Teacher Retirement System of Texas Purchases 15,486 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Teacher Retirement System of Texas grew its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 137.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,738 shares of the company’s stock after buying an additional 15,486 shares during the quarter. Teacher Retirement System of Texas’ holdings in Global-E Online were worth $1,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp increased its stake in Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. increased its stake in Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Global-E Online in the 4th quarter worth about $59,000. Whipplewood Advisors LLC bought a new stake in Global-E Online during the 4th quarter valued at about $65,000. Finally, Quarry LP boosted 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 buying an additional 1,585 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-E Online Stock Down 2.8 %

NASDAQ GLBE opened at $35.68 on Friday. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $63.69. The company has a 50 day moving average price of $48.65 and a 200 day moving average price of $46.55. The firm has a market cap of $5.86 billion, a PE ratio of -81.09, a price-to-earnings-growth ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 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 prior year, the firm posted $0.22 earnings per share. On average, equities research analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GLBE shares. Needham & Company LLC reaffirmed a “buy” rating and set a $64.00 price target on shares of Global-E Online in a research note on Wednesday, March 12th. UBS Group lowered their target price 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. Morgan Stanley upgraded Global-E Online from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $55.00 to $46.00 in a research note on Wednesday. KeyCorp increased their target price on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company reduced their price target on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.