State Street Corp Raises Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

State Street Corp raised its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,550,647 shares of the company’s stock after purchasing an additional 55,760 shares during the quarter. State Street Corp owned 0.94% of Global-E Online worth $59,607,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GLBE. Fred Alger Management LLC purchased a new stake in Global-E Online in the third quarter valued at approximately $53,493,000. Dragoneer Investment Group LLC lifted its stake in Global-E Online by 9.6% during 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 during the period. WINTON GROUP Ltd purchased a new stake in shares of Global-E Online in the 2nd quarter valued at $623,000. Public Sector Pension Investment Board increased its stake in shares of Global-E Online by 23.8% in the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock worth $1,997,000 after acquiring an additional 10,000 shares during the period. Finally, Clearbridge Investments LLC purchased a new position in shares of Global-E Online during the second quarter worth $83,036,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GLBE shares. JMP Securities upped their price target on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. 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. Raymond James boosted their price target on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Benchmark lifted their target price on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $63.00 price target (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.33.

Global-E Online Stock Down 3.9 %

GLBE opened at $54.62 on Thursday. The company has a market cap of $8.97 billion, a PE ratio of -94.17 and a beta of 1.24. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $57.85. The company has a 50-day moving average price of $45.06 and a 200 day moving average price of $38.25.

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.