Global-E Online Ltd. (NASDAQ:GLBE) Stock Position Decreased by Wasatch Advisors LP

Wasatch Advisors LP trimmed its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 4.1% during the third quarter, Holdings Channel reports. The fund owned 1,306,308 shares of the company’s stock after selling 55,690 shares during the quarter. Wasatch Advisors LP’s holdings in Global-E Online were worth $50,214,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Dragoneer Investment Group LLC raised its stake in shares of Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares in the last quarter. Abdiel Capital Advisors LP raised its stake in shares of Global-E Online by 1.4% in the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after acquiring an additional 95,741 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Global-E Online in the 2nd quarter valued at approximately $83,036,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Global-E Online by 30.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,490 shares of the company’s stock valued at $59,464,000 after acquiring an additional 378,827 shares in the last quarter. Finally, Eventide Asset Management LLC raised its stake in shares of Global-E Online by 59.1% in the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after acquiring an additional 580,450 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GLBE shares. KeyCorp raised their price objective on Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company raised their target price on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a report on Monday, November 18th. JMP Securities raised their target price on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a report on Friday, October 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Global-E Online has an average rating of “Moderate Buy” and an average price target of $51.33.

Global-E Online Trading Up 0.8 %

Shares of NASDAQ:GLBE opened at $52.28 on Friday. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $52.75. The firm has a market capitalization of $8.59 billion, a PE ratio of -90.14 and a beta of 1.10. The business’s 50 day moving average is $40.31 and its 200-day moving average is $35.83.

About Global-E Online

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.