State of New Jersey Common Pension Fund D Purchases 10,800 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

State of New Jersey Common Pension Fund D raised its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,100 shares of the company’s stock after acquiring an additional 10,800 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Global-E Online worth $3,293,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Morgan Stanley lifted its stake in shares of Global-E Online by 18.2% in the third quarter. Morgan Stanley now owns 15,827,478 shares of the company’s stock valued at $628,984,000 after buying an additional 2,438,737 shares during the period. Invesco Ltd. lifted its stake in shares of Global-E Online by 198.4% in the third quarter. Invesco Ltd. now owns 1,566,885 shares of the company’s stock valued at $62,268,000 after buying an additional 1,041,746 shares during the period. Wellington Management Group LLP lifted its stake in shares of Global-E Online by 139.4% in the third quarter. Wellington Management Group LLP now owns 1,265,548 shares of the company’s stock valued at $50,293,000 after buying an additional 737,019 shares during the period. Swiss National Bank bought a new stake in shares of Global-E Online in the third quarter valued at about $11,613,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Global-E Online by 14.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,185,991 shares of the company’s stock valued at $86,871,000 after buying an additional 280,936 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Price Performance

Shares of Global-E Online stock opened at $33.61 on Friday. The firm has a market cap of $5.52 billion, a P/E ratio of -41.49 and a beta of 1.10. The firm has a 50 day simple moving average of $34.74 and a 200 day simple moving average of $36.21. Global-E Online Ltd. has a fifty-two week low of $26.01 and a fifty-two week high of $45.72.

Global-E Online (NASDAQ:GLBE) last issued 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). The company had revenue of $185.40 million during the quarter, compared to analyst estimates of $181.74 million. Global-E Online had a negative net margin of 23.48% and a negative return on equity of 19.33%. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) EPS. On average, sell-side analysts expect that Global-E Online Ltd. will post -0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research note on Friday, April 5th. The Goldman Sachs Group increased their price target on shares of Global-E Online from $36.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Wells Fargo & Company reissued an “overweight” rating and issued a $40.00 price target on shares of Global-E Online in a research report on Monday, April 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $50.00 price target on shares of Global-E Online in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.