ARK Investment Management LLC Grows Stock Position in Global-e Online Ltd. (NASDAQ:GLBE)

ARK Investment Management LLC grew its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,133,401 shares of the company’s stock after purchasing an additional 73,753 shares during the quarter. ARK Investment Management LLC’s holdings in Global-e Online were worth $44,917,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Morgan Stanley increased its position in shares of Global-e Online by 18.2% during the 3rd quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after purchasing an additional 2,438,737 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Global-e Online by 1,236.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 6,969,582 shares of the company’s stock worth $140,576,000 after acquiring an additional 6,448,167 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Global-e Online by 14.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company’s stock worth $86,871,000 after acquiring an additional 280,936 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Global-e Online by 3.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,824,925 shares of the company’s stock worth $72,523,000 after acquiring an additional 52,945 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Global-e Online by 19.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,675,845 shares of the company’s stock worth $66,598,000 after acquiring an additional 268,427 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

GLBE has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $48.00 target price on shares of Global-e Online in a report on Thursday, February 22nd. Piper Sandler reiterated an “overweight” rating and set a $50.00 target price on shares of Global-e Online in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their target price on Global-e Online from $36.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Wells Fargo & Company lowered their target price on Global-e Online from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $46.00 target price on shares of Global-e Online in a research report on Tuesday, December 5th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Global-e Online has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Global-e Online Trading Down 0.2 %

NASDAQ:GLBE opened at $36.22 on Thursday. Global-e Online Ltd. has a twelve month low of $26.01 and a twelve month high of $45.72. The stock has a fifty day simple moving average of $36.81 and a 200-day simple moving average of $36.77.

Global-e Online (NASDAQ:GLBE) last released its earnings results 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). Global-e Online had a negative return on equity of 14.58% and a negative net margin of 23.48%. The business had revenue of $185.40 million for the quarter, compared to the consensus estimate of $181.74 million. During the same quarter last year, the business posted ($0.18) earnings per share. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. Research analysts forecast that Global-e Online Ltd. will post -0.5 earnings per share for the current fiscal year.

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.