Franklin Resources Inc. Purchases New Position in Global-E Online Ltd. (NASDAQ:GLBE)

Franklin Resources Inc. purchased a new position in Global-E Online Ltd. (NASDAQ:GLBE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,794 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds also recently bought and sold shares of the business. Fred Alger Management LLC acquired a new position in shares of Global-E Online during the 3rd quarter worth approximately $53,493,000. Dragoneer Investment Group LLC raised 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 worth $534,403,000 after acquiring an additional 1,288,829 shares during the period. WINTON GROUP Ltd purchased a new position in Global-E Online during the second quarter valued at $623,000. Public Sector Pension Investment Board grew its position 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 valued at $1,997,000 after purchasing an additional 10,000 shares during the period. Finally, Clearbridge Investments LLC purchased a new stake in shares of Global-E Online during the second quarter worth about $83,036,000. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GLBE shares. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price target (up from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. 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 research report on Thursday, November 21st. KeyCorp boosted their price target on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group upped their target price on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Stock Performance

GLBE stock opened at $54.53 on Thursday. The firm has a market cap of $8.96 billion, a PE ratio of -94.02 and a beta of 1.24. Global-E Online Ltd. has a one year low of $28.11 and a one year high of $57.85. The firm’s 50 day moving average price is $48.07 and its 200-day moving average price is $39.81.

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.