71,200 Shares in Global-E Online Ltd. (NASDAQ:GLBE) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. acquired a new position in Global-E Online Ltd. (NASDAQ:GLBE) in the fourth quarter, HoldingsChannel reports. The fund acquired 71,200 shares of the company’s stock, valued at approximately $3,883,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its stake in Global-E Online by 2.4% in the fourth quarter. ProShare Advisors LLC now owns 42,293 shares of the company’s stock worth $2,306,000 after acquiring an additional 993 shares during the period. Quantinno Capital Management LP lifted its position in shares of Global-E Online by 14.7% during the fourth quarter. Quantinno Capital Management LP now owns 7,511 shares of the company’s stock valued at $410,000 after buying an additional 962 shares during the last quarter. Noked Israel Ltd lifted its position in shares of Global-E Online by 68.5% during the fourth quarter. Noked Israel Ltd now owns 252,818 shares of the company’s stock valued at $13,786,000 after buying an additional 102,818 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Global-E Online by 8.2% in the 4th quarter. Nuveen Asset Management LLC now owns 284,869 shares of the company’s stock valued at $15,534,000 after buying an additional 21,608 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Global-E Online in the 4th quarter worth approximately $1,009,000. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GLBE. The Goldman Sachs Group reduced their price objective on shares of Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their price objective on shares of Global-E Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley upgraded shares of Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $55.00 to $46.00 in a research note on Wednesday, March 26th. JMP Securities reiterated a “market outperform” rating and set a $64.00 price objective on shares of Global-E Online in a research note on Thursday. Finally, UBS Group reduced their price objective on shares of 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. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $49.42.

Global-E Online Trading Down 3.4%

Shares of Global-E Online stock opened at $33.11 on Friday. Global-E Online Ltd. has a 12-month low of $26.64 and a 12-month high of $63.69. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -75.25, a PEG ratio of 4.61 and a beta of 1.36. The firm’s 50 day simple moving average is $35.42 and its two-hundred day simple moving average is $45.78.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. The business had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. On average, sell-side analysts predict that Global-E Online Ltd. will post 0.25 EPS for the current fiscal 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.