Nordea Investment Management AB Invests $7.84 Million in Global-e Online Ltd. $GLBE

Nordea Investment Management AB purchased a new position in shares of Global-e Online Ltd. (NASDAQ:GLBE) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 218,757 shares of the company’s stock, valued at approximately $7,838,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares in the last quarter. Virtus Advisers LLC acquired a new position in shares of Global-e Online in the second quarter valued at about $47,000. Tower Research Capital LLC TRC increased its position in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after acquiring an additional 1,616 shares during the period. State of Tennessee Department of Treasury raised its stake in Global-e Online by 46.8% in the 2nd quarter. State of Tennessee Department of Treasury now owns 3,975 shares of the company’s stock worth $133,000 after purchasing an additional 1,267 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Global-e Online in the 2nd quarter valued at about $214,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-e Online Stock Down 2.1%

Shares of GLBE stock opened at $37.50 on Friday. The business has a fifty day simple moving average of $38.91 and a 200 day simple moving average of $35.95. The company has a market cap of $6.36 billion, a P/E ratio of 1,250.42 and a beta of 1.24. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69.

Global-e Online (NASDAQ:GLBE) last issued its earnings results on Wednesday, November 19th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The firm had revenue of $220.78 million during the quarter, compared to the consensus estimate of $217.95 million. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. The business’s quarterly revenue was up 25.5% on a year-over-year basis. As a group, equities research analysts anticipate that Global-e Online Ltd. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GLBE shares. Needham & Company LLC raised their target price on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Piper Sandler upped their target price on Global-e Online from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Truist Financial set a $41.00 price target on Global-e Online in a research report on Thursday, December 11th. Zacks Research raised Global-e Online from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Finally, Benchmark reaffirmed a “buy” rating on shares of Global-e Online in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Global-e Online currently has an average rating of “Moderate Buy” and an average target price of $49.91.

Global-e Online Profile

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.