CIBC Asset Management Inc Raises Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

CIBC Asset Management Inc boosted its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,420 shares of the company’s stock after buying an additional 393 shares during the period. CIBC Asset Management Inc’s holdings in Global-E Online were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. raised its position 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Global-E Online by 3.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,279 shares of the company’s stock valued at $1,755,000 after buying an additional 1,523 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Global-E Online by 3.2% in the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after buying an additional 484 shares in the last quarter. Capital International Investors grew its position in shares of Global-E Online by 51.2% in the 1st quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock worth $36,467,000 after buying an additional 339,591 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after acquiring an additional 1,877,953 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-E Online Trading Up 4.2 %

GLBE opened at $49.89 on Friday. Global-E Online Ltd. has a 12-month low of $28.11 and a 12-month high of $52.26. The firm has a 50 day moving average of $38.90 and a two-hundred day moving average of $35.12. The firm has a market capitalization of $8.19 billion, a PE ratio of -76.75 and a beta of 1.10.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GLBE. Needham & Company LLC restated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research note on Monday. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $63.00 target price (up from $44.00) on shares of Global-E Online in a research report on Thursday. UBS Group decreased 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. Finally, KeyCorp dropped their price target on Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.92.

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.