Principal Financial Group Inc. Decreases Position in Global-E Online Ltd. (NASDAQ:GLBE)

Principal Financial Group Inc. decreased its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 63.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,748 shares of the company’s stock after selling 11,617 shares during the quarter. Principal Financial Group Inc.’s holdings in Global-E Online were worth $259,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GLBE. Toronto Dominion Bank bought a new stake in Global-E Online in the second quarter worth $40,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Global-E Online by 18.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Global-E Online by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after acquiring an additional 780 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Global-E Online during the 2nd quarter worth about $220,000. Finally, Avitas Wealth Management LLC bought a new position in Global-E Online during the 2nd quarter valued at about $224,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Price Performance

Shares of Global-E Online stock opened at $52.02 on Tuesday. Global-E Online Ltd. has a 1 year low of $28.11 and a 1 year high of $52.37. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of -89.69 and a beta of 1.10. The firm’s 50-day moving average is $39.47 and its two-hundred day moving average is $35.45.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GLBE. Bank of America dropped their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JMP Securities boosted their price objective 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. UBS Group cut their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Raymond James lifted their target price on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Piper Sandler restated an “overweight” rating and issued a $63.00 price target (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.92.

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.