Principal Financial Group Inc. Sells 11,617 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

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

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Global-E Online in the third quarter valued at approximately $32,000. Toronto Dominion Bank acquired a new stake in Global-E Online during the 2nd quarter valued at $40,000. Venturi Wealth Management LLC acquired a new stake in Global-E Online during the 3rd quarter valued at $87,000. Quarry LP boosted its position in Global-E Online by 226.1% during the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after purchasing an additional 1,585 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Global-E Online in the second quarter valued at $220,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Stock Performance

GLBE opened at $54.12 on Tuesday. The firm has a market cap of $8.89 billion, a P/E ratio of -93.31 and a beta of 1.22. The business’s fifty day moving average is $49.37 and its 200-day moving average is $40.46. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $57.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Benchmark raised their target price on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC restated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. Jefferies Financial Group upped their target price on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. 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 research note on Friday, October 18th. Finally, Piper Sandler boosted their price target on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.58.

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.