Driehaus Capital Management LLC Makes New Investment in Global-E Online Ltd. (NASDAQ:GLBE)

Driehaus Capital Management LLC bought a new position in Global-E Online Ltd. (NASDAQ:GLBE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 96,249 shares of the company’s stock, valued at approximately $5,248,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp grew its position in Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Global-E Online by 1,968.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after buying an additional 748 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Global-E Online during the fourth quarter valued at approximately $59,000. Whipplewood Advisors LLC bought a new stake in shares of Global-E Online during the fourth quarter valued at approximately $65,000. Finally, SBI Securities Co. Ltd. purchased a new position in Global-E Online in the 4th quarter worth approximately $99,000. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Price Performance

Shares of GLBE opened at $37.74 on Friday. The firm has a market cap of $6.38 billion, a P/E ratio of -85.77, a price-to-earnings-growth ratio of 4.61 and a beta of 1.36. Global-E Online Ltd. has a 1 year low of $26.64 and a 1 year high of $63.69. The company has a 50 day simple moving average of $35.51 and a two-hundred day simple moving average of $45.79.

Global-E Online (NASDAQ:GLBE) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. Global-E Online had a negative net margin of 10.04% and a negative return on equity of 8.56%. Global-E Online’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. On average, sell-side analysts anticipate that Global-E Online Ltd. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

GLBE has been the topic of several recent analyst reports. KeyCorp cut their target price on Global-E Online from $60.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. UBS Group dropped their price objective on Global-E Online from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group decreased their target price on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $55.00 to $46.00 in a report on Wednesday, March 26th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $51.33.

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.