Migdal Insurance & Financial Holdings Ltd. Has $20.77 Million Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 524,000 shares of the company’s stock after purchasing an additional 42,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Global-E Online were worth $20,766,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GLBE. RiverPark Advisors LLC acquired a new stake in Global-E Online in the third quarter valued at $26,000. Quarry LP lifted its stake in Global-E Online by 169.9% in the first quarter. Quarry LP now owns 915 shares of the company’s stock valued at $29,000 after acquiring an additional 576 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Global-E Online in the second quarter valued at $32,000. Money Concepts Capital Corp acquired a new stake in Global-E Online in the fourth quarter valued at $40,000. Finally, Rockefeller Capital Management L.P. lifted its stake in Global-E Online by 23.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,025 shares of the company’s stock valued at $41,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Stock Down 0.1 %

Shares of GLBE stock traded down $0.05 during trading on Wednesday, hitting $33.90. The company had a trading volume of 381,823 shares, compared to its average volume of 1,111,114. The stock’s 50-day moving average is $35.95 and its two-hundred day moving average is $36.46. Global-E Online Ltd. has a 52 week low of $26.01 and a 52 week high of $45.72.

Global-E Online (NASDAQ:GLBE) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $185.40 million during the quarter, compared to the consensus estimate of $181.74 million. Global-E Online had a negative return on equity of 19.33% and a negative net margin of 23.48%. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) earnings per share. Sell-side analysts predict that Global-E Online Ltd. will post -0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $50.00 target price on shares of Global-E Online in a research note on Thursday, February 22nd. Wells Fargo & Company restated an “overweight” rating and set a $40.00 target price on shares of Global-E Online in a research note on Monday, April 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Global-E Online in a research report on Friday, April 5th. Finally, The Goldman Sachs Group raised their price target on shares of Global-E Online from $36.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Global-E Online has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.