Abdiel Capital Advisors LP has recently announced that it has increased stake in Global-E Online Ltd. (NASDAQ:GLBE) by 48.16%. After grabbing 14.82 million shares, the institutional investor is now in possession of 4.82 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 9.47% having worth around $374.72 million. Moreover, Goldman Sachs & Co. LLC increased its share by 6.45 million to have a control over 6.97 million shares. And Artisan Partners LP raised its holdings to 0.37 million shares by acquiring 4.84 million shares or 3.09% of the stake.
Global-E Online Ltd. (GLBE) concluded trading on 11/17/22 at a closing price of $20.73, with 4.67 million shares of worth about $96.75 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -0.81% during that period and on Thursday the price saw a loss of about -15.53%. Currently the company’s common shares owned by public are about 156.89M shares, out of which, 124.52M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the GLBE stock and their offered price forecasts bring an average price target of $36.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $48.00 and could fall to a lowest price of $27.00. The stock’s current price level is 49.71% above of average price target set by the analysts, while a rise to estimated low would result in gain of 23.22% for the stock. However, touching the estimated high of $48.00 would mean a gain of 56.81% for the stock.
Fidelity Advisor Series I -Growth, Catalyst Eventide Gilead Fund, and Artisan Mid Cap Fund are the top 3 mutual funds which are holding stakes in Global-E Online Ltd. Fidelity Advisor Series I -Growth is currently holding 2.33 million shares of worth totaling $58.81 million. The company recently came selling 96700.0 shares which brought its stake up to 1.49% of the company’s outstanding shares. Catalyst Eventide Gilead Fund sold 12995.0 shares, after which its hold over company’s outstanding shares shrunk to 1.47%, leaving 2.29 million shares with the mutual fund that have a worth of about $58.0 million. Artisan Mid Cap Fund, after buying 1.53 million shares, have now control over 0.98% of the stake in the company. It holds 34903.0 shares of worth $38.71 million.
Global-E Online Ltd. (NASDAQ: GLBE) started trading at $22.25, below -$2.29 from concluding price of the previous day. However, the stock later moved at a day high price of 22.38, or with a loss of -15.53%. Stock saw a price change of -2.12% in past 5 days and over the past one month there was a price change of -15.56%. Year-to-date (YTD), GLBE shares are showing a performance of -67.30% which decreased to -67.80% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $15.63 but also hit the highest price of $69.83 during that period. The average intraday trading volume for Global-E Online Ltd. shares is 1.53 million. The stock is currently trading -11.30% below its 20-day simple moving average (SMA20), while that difference is down -21.81% for SMA50 and it goes to -24.69% lower than SMA200.
Abdiel Capital Advisors LP acquired 14.82 million shares of Global-E Online Ltd. having value of about $374.72 million. Data submitted at the U.S SEC by Abdiel Capital Advisors LP revealed that the firm now holds 4.82 million shares in the company valued at close to $99840841.77, or have control over 48.16% stake in the company. Global-E Online Ltd. (NASDAQ: GLBE) currently have 156.89M outstanding shares and institutions hold larger chunk of about 65.10% of that. Holding of mutual funds in the company is about 14.58% while other institutional holders and individual stake holders have control over 28.53% and — of the stake respectively.
The stock has a current market capitalization of $2.93B. It has posted earnings per share of -$1.00 in the same period. It has Quick Ratio of 2.80 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GLBE, volatility over the week remained 9.52% while standing at 8.86% over the month.
Analysts are in expectations that Global-E Online Ltd. (GLBE) stock would likely to be making an EPS of -$0.3 in the current quarter, while forecast for next quarter EPS is -$0.27 and it is -$0.97 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.36 which is -$0.26 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -1466.70% while it is estimated to increase by 21.10% in next year.
Analysts at 9 brokerage firms have issued recommendations for the Global-E Online Ltd. (GLBE)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 9 Wall Street analysts, 8 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on December 10, 2021 offering a Buy rating for the stock and assigned a target price of $89 to it. Coverage by BofA Securities stated Global-E Online Ltd. (GLBE) stock as a Buy in their note to investors on December 08, 2021, suggesting a price target of $80 for the stock. On October 22, 2021, Needham Initiated their recommendations, while on June 07, 2021, Raymond James Initiated their ratings for the stock with a price target of $41. Stock get an Overweight rating from Piper Sandler on June 07, 2021.