Geode Capital Management LLC Grows Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Geode Capital Management LLC lifted its position in Global-E Online Ltd. (NASDAQ:GLBE) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 933,476 shares of the company’s stock after purchasing an additional 30,995 shares during the quarter. Geode Capital Management LLC owned about 0.57% of Global-E Online worth $35,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLBE. Dragoneer Investment Group LLC lifted its position in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP lifted its holdings in shares of Global-E Online by 1.4% during the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock worth $245,783,000 after acquiring an additional 95,741 shares during the last quarter. Clearbridge Investments LLC purchased a new position in Global-E Online in the second quarter worth $83,036,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Global-E Online by 30.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,490 shares of the company’s stock worth $59,464,000 after acquiring an additional 378,827 shares in the last quarter. Finally, Eventide Asset Management LLC increased its stake in Global-E Online by 59.1% in the third 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 during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

GLBE has been the subject of several research analyst reports. UBS Group dropped their price target on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, October 18th. JMP Securities upped their target price on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. KeyCorp lifted their price target on shares of Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Piper Sandler restated an “overweight” rating and issued a $63.00 price objective (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. Finally, Wells Fargo & Company increased their target price on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.33.

Global-E Online Trading Up 0.9 %

Global-E Online stock opened at $55.15 on Thursday. The firm has a market cap of $9.06 billion, a P/E ratio of -95.09 and a beta of 1.24. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $57.85. The firm has a 50-day moving average of $46.74 and a 200-day moving average of $39.10.

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.