State of New Jersey Common Pension Fund D Has $3.29 Million Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

State of New Jersey Common Pension Fund D lifted its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,100 shares of the company’s stock after buying an additional 10,800 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Global-E Online were worth $3,293,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GLBE. Asset Management One Co. Ltd. acquired a new stake in shares of Global-E Online during the third quarter worth $1,560,000. Commonwealth Equity Services LLC acquired a new stake in shares of Global-E Online during the third quarter worth $251,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Global-E Online during the third quarter worth $228,000. Bank of New York Mellon Corp acquired a new stake in shares of Global-E Online during the third quarter worth $5,991,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Global-E Online in the third quarter worth $175,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Trading Up 2.4 %

Global-E Online stock opened at $33.61 on Friday. Global-E Online Ltd. has a 1-year low of $26.01 and a 1-year high of $45.72. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -41.49 and a beta of 1.10. The firm’s fifty day moving average price is $34.74 and its two-hundred day moving average price is $36.21.

Global-E Online (NASDAQ:GLBE) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Global-E Online had a negative net margin of 23.48% and a negative return on equity of 19.33%. The firm had revenue of $185.40 million for the quarter, compared to the consensus estimate of $181.74 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, research analysts forecast that Global-E Online Ltd. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

GLBE has been the subject of a number of research reports. 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 report on Thursday, January 11th. Piper Sandler restated an “overweight” rating and issued a $50.00 price target on shares of Global-E Online in a report on Thursday, February 22nd. Wells Fargo & Company restated an “overweight” rating and issued a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a report on Friday, April 5th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Global-E Online presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.